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StockPreacher.com issues Technical Trading Overview for Magellan Energy
The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
(EMAILWIRE.COM, October 05, 2009 ) DALLAS, Texas - StockPreacher.com announces an investment report featuring independent oil and gas company Magellan Energy (OTCPK: MGLG).
The investment report on Magellan Energy (OTCPK: MGLG) should be of particular interest to other oil and gas companies: Northern Oil and Gas Inc. (AMEX: NOG), GMX Resources Inc. (Nasdaq: GMXR), Union Drilling Inc. (Nasdaq: UDRL) and Vanguard Natural Resources (NYSE: VNR).
The full report is available at:
http://www.stockpreacher.com/n/MGLG
Magellan Energy (MGLG) is a publicly traded independent oil and gas company that is actively acquiring oil and gas leases, producing properties, mineral rights and surface interests in Texas, Tennessee and Oklahoma. Once acquired, the Company intends to develop each property to maximize the income from each property by re-establishing production, refurbishing and improving the existing production and operations. Currently, the Company is focused on its producing projects in Morgan County, Tennessee.
In the report, the analyst notes:
“MGLG recently entered in to an agreement for several existing wells on the Robert Anderson Lease, also located in Morgan County, Tennessee. Magellan Energy Ltd. will be partnered with TMD Energy Inc. on this project. … TMD Energy Inc. will continue as the operator of the wells and oversee any necessary work over procedures. The work on the Robert Anderson Lease has been completed and all necessary components of this project are updated, installed and currently ready for the production phase.
“A potentially huge consumer of natural gas in Tennessee has come to the forefront with Tennessee Valley Authority announcement that a natural gas-fired electric plant in Rogersville is scheduled to come online in late 2011 and will require up to 160 million cubic feet of natural gas daily. Tennessee is now producing about 16 million cubic feet of gas, but has immense potential to produce a great deal more, with the most potential coming from the Chattanooga Shale. MGLG and other area producers stand to benefit greatly from this enormous new demand source.”
To read the entire report visit:
http://www.stockpreacher.com/n/MGLG
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