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Magellan Petroleum Corporation Message Board

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  • Bill Lehane 09 April 2014 11:24 GMT
    London-listed explorer ditches Havant prospect as it focuses on international plays
    Northern Petroleum has ditched the licence for the Havant oil prospect and downgraded the resources at two other UK onshore conventional plays.

    The AIM-listed explorer said that after discussions with its joint venture partners – which include Magellan Petroleum and Premier Oil - it had decided to relinquish the PEDL256 and PEDL155 licences containing the Havant oil prospect.

    The acreage in the Hampshire sector of the Weald basin has been permitted for a well since 2009 but has not seen any drilling.

    Northern Petroleum also said that it and Igas Energy had decided to downgrade the Baxter’s Copse and Markwells Wood discoveries from 4.3 million barrels of proven and probable reserves to 2C contingent resources.

    “While both assets have the potential to become commercial discoveries, the company believes that further appraisal needs to be undertaken to produce a viable development plan which would lead to commercial production,” Northern Petroleum said.

    Markwells Wood partner Egdon Resources admitted in 2012 that the Great Oolite oil discovery had failed to meet expectations after testing.

    Igas Energy acquired Baxter’s Copse from Ireland’s Providence Resources in 2012 but has not yet moved ahead with well site selection previously envisaged for the asset.

    Northern Petroleum also said it was continuing efforts to sell its UK portfolio as it chases bigger prospects internationally, but that expressions of interests had to date failed to match its valuation of the assets.

    Chief executive Keith Bush said that “management time and capital allocated to the UK will be limited” in advance of any sale, which he said would require an offer that recognised the “small but consistent source of income” derived from its Horndean and Avington fields...

    Sentiment: Strong Sell

  • Still spreading
    Poplar residents find time doesn't heal all wounds
    by Kelly Conde

    Residents of the town of Poplar on the Fort Peck Indian Reservation continue to deal with a massive groundwater contamination from oil and gas activity, and a new report released last week by the U.S. Geological Survey shows that the contamination is only spreading. The federal agency says the issue has led to polluted drinking water for more than 3,000 people.

    The contamination was first discovered in the 1980s, when residents living near the East Poplar oilfield noticed their drinking water tasted especially salty and contained an odd, amber hue. Since those initial complaints, the USGS and the Fort Peck Office of Environmental Protection have worked to understand the cause of the contamination and its extent. Though it is now well established that the problem resulted from antiquated oil production practices nearly 60 years ago, experts have had considerably more trouble determining just how far the polluted water has spread.

    The terrain surrounding Poplar includes a predictable mix of soft rolling hills and deep gullies, but the area is more complex below the surface. The USGS can only track the contaminated water by drilling small individual wells and sampling the water beneath, or by flying expensive electromagnetic detectors over the area via helicopter. The report released last week used a combination of the two methods to draw its conclusions, and found the contamination has increased from 12.1 square miles in 1997 to 17.9 square miles today.

    The reason the contamination continues to spread can be linked to the location of the oilfields. The East Poplar oilfields connect to the Williston basin. "The water that is produced with oil and gas development in the Williston basin is extremely saline," USGS hydrologist Joanna Thamke says.

    In fact, the water beneath the Williston basin is some of the most saline water in the n

  • "----- "Grants from the aid package, called the “Eastern Montana Impact and Infrastructure Project,” can go toward the planning, designing, repairment, improvement and expansion for water and wastewater treatment systems. Also eligible for the aid package is the payment of existing debt incurred on or after July 1, 2011, for water and wastewater systems." --------"

    Yep ... all required due to the population explosion that the current infrastructure is unable to service ... I know you didn't intend to corroborate my point ... but you did ... {; )

    Quick question: Do you ever check how deep the water is before you jump in? It would seem not ...

  • ------ "Grants from the aid package, called the “Eastern Montana Impact and Infrastructure Project,” can go toward the planning, designing, repairment, improvement and expansion for water and wastewater treatment systems. Also eligible for the aid package is the payment of existing debt incurred on or after July 1, 2011, for water and wastewater systems." --------

    carson. Stop BS'ing and do something constructive for once in your miserable message board existence: Explain to your fellow investors the difference between NORM and TENORM ( species of radioactive waste )

  • Before you laugh again, please re-read your post. The grant is neither a) taxpayers' borrowed money, nor b) money to clean up the fossil fuel industry's dirty messes. You have correctly stated that the grant will be used to ease the strains on water and sewer systems--that were caused by a growth in population that grew faster than the existing infrastructure could service. The grant will be co-opted with a State issued bond. The bond is a revenue-type bond that has specific streams of income (not taxes) from mineral sharing, and is not a taxpayer-supported general obligation bond. Further, by using the State's high credit rating, the local agencies that will receive the grant money will save a considerable amount on debt service, had they been required to rely on their own individual issuances and borrowings--a benefit that helps everyone, especially the local
    governments.

    Local infrastructure will be able to handle the influx of new inhabitants (read: increased sales, personal income, business, and property taxes), and the mineral revenues used to cover debt service will once again be directed to the purposes they were budgeted for and intended (you forgot to mention that these revenues were voted on before and passed by the legislature for local infrastructure improvement, but were vetoed in the end by a Governor--right or wrong--who diverted the funds to cover a potential redline State budget..)

    You are quite welcome.

    Happy Easter

  • Reply to

    MBOGC and Class 2 injection wells

    by wright.tom64 19 hours ago

    Have you seen the latest report dated April 15, 2014?
    USGS blames oil drilling for water contamination in Montana
    APRIL 15, 2014
    Oil drilling in the East Poplar oil field in Montana is the cause of brine contamination of an 18-mile shallow aquifer, a new report released by the U.S. Geological Survey (USGS) has revealed.

    Researchers said that disposal of brine water from oil operations for decades has affected the quality of both private drinking water wells and public water supply wells for the city of Poplar. According to USGS estimates, the amount of groundwater impacted by contamination ranges between 15 billion and 37 billion gallons, affecting supplies to about 3,000 people in the area.

    The report claimed that possible sources of groundwater contamination included pipelines, storage tanks, production wells and brine disposal wells. USGS researchers noted that identifying a specific source of contamination was often not possible because of the presence of several features occurring at the same time and place.

    An earlier study by the USGS involving samples of water taken in 2009/2010 confirmed that water from the public water supply of the city of Poplar was contaminated with chemicals present in oil-field brine. This prompted the city to construct a pipeline in 2011 to carry treated water from the Missouri River to the city and communities nearby.

  • Reply to

    MBOGC and Class 2 injection wells

    by wright.tom64 19 hours ago

    Nope, just thought I would give carson an Easter break from having to reply to inane queries.

  • Reply to

    MBOGC and Class 2 injection wells

    by wright.tom64 19 hours ago

    You're totally flumoxxed, "carson".

    Sentiment: Strong Sell

  • First, the MBOGC does not have authority over Indian lands. Secondly, there are about 150,000 Class 2 injection wells, mostly in TX and OK and 80% of those are for EOR purposes. The other 20% are for storage or disposal. I hope this clears it up for you avi although I know the question was not directed to me but to carson. If I were you avi, I would be more concerned about what a good report out of the UK concerning the Weald Basin has the potential of doing for the share price of Magellan which is already up 60% this year. Things are falling into place for Magellan that even a poor management (opinion of some posters) may not be able to ruin. Speculative buy as always should be the best rating given to small E&P companies.

    Sentiment: Buy

  • Friday, April 18, 2014
    Associated Press
    BILLINGS, Mont. - Gov. Steve Bullock proposed a $45 million grant program Thursday to ease strains on water and sewer systems in eastern Montana towns that have struggled to keep pace with the demands of the fast-growing Bakken oil patch.

    The proposal needs approval from the 2015 Legislature. It would be paid for with state bonds - an aspect that's likely to run into opposition from some lawmakers...

    That's the ticket! Have the poor taxpayers BORROW more money to clean up the fossil fuel industry's dirty messes! HA HA HA HA

  • "... The MBOGC has primary regulatory jurisdiction over the Underground Injection Control (UIC) Program for Class II injection or disposal wells. The purpose of this program is to protect underground sources of drinking water (USDWs). .." _________ Now ask Carson if the MBOGC has jurisdiction over Indian tribal lands?

  • "Ask them an honest question and they deflect by either changing the topic or name- calling. Answer their questions with facts and they change the subject or resort to name calling...."

    Your slip is showing, Little Fella ... checkmate!

  • carson. Your shallow understanding reveals a startling lack of intelligence. Go back to your FOX News for some more material, dull boy.

    Sentiment: Sell

  • "Agriculture. Domestic livestock such as cattle, buffalo, sheep, goats, and camels produce large amounts of CH4 as part of their normal digestive process. Also, when animals' manure is stored or managed in lagoons or holding tanks, CH4 is produced. Because humans raise these animals for food, the emissions are considered human-related. Globally, the Agriculture sector is the primary source of CH4 emissions."

    "Almost 70% of Pennsylvania's agricultural income is generated by livestock and livestock products. Milk is the state's most important livestock product and Pennsylvania is a leading state in the production of milk.
    Beef cattle rank second among the state's products in this sector.
    Chicken eggs, broilers (young chickens), and hogs are also valuable livestock products generating revenues in the state. Pennsylvania is a leading egg-producing state.
    Some turkeys are raised in the state and there is some activity in aquaculture and in raising sheep and lambs."

    Perhaps those Pennsylvania cows should be corked?

    Bump to the top ...

  • OIL SANDS AND FRACKING ARE A MULTI-TRILLION DOLLAR INDUSTRY

    Toxic wastewater tailings are the single biggest problem limiting MAGELLAN production and access to their reserves.

    The University of Alberta, a leader in wastewater technology, announced a BREAKTHROUGH COST-EFFECTIVE SOLUTION.

    The University built a bench-lab model that validated the technology and performed exactly as predicted by purifying the wastewater with very little energy. Contaminants were dismantled and rendered safe using the AOS system.

    AOS will enable MAGELLAN to access a far greater amount of their reserves and will increase production significantly beyond today’s projections.

    BioLargo (BLGO) owns “AOS” that is the key to abundant oil sands and fracking and will deliver what every oil producer is looking for . . . a cheap way to clean the ALL wastewater from fracking and oil sands recovery.

    The University is building a commercial sized pilot unit that is expected to be completed in 6 months

The first pilot study will use an 4” pipe and can be scaled to ANY size pipe . . . 12 inch, 24 inch, 36 inch, 60 inch, 120 inch and bigger.

    Once news hits that the pilot study is successful AGAIN, BioLargo shares will advance to record highs because toxic wastewater is the single biggest problem in the trillion-dollar oil and gas industry.

    BioLargo shares are trading at $.72 (seventy-two cents) today and can easily become one of the best performing stocks in your portfolio.

    Sentiment: Strong Buy

  • Reply to

    Does Herbie.Carson read the Washington Post?

    by avi.morax Apr 15, 2014 2:41 PM

    1974 Plymouth Duster retailed for $3,200 in 1974. Classic muscle car now goes at auction for $23,000. You (both) seem to laugh loudest when people are making money. Hope it continues ... {; )

    P.S. When you make a feeble attempt to degrade a poster with silly comments, be sure you don't end up with egg on your face(s), as you did here and continually do ...

  • "...​The Environmental Protection Agency is under fire for underestimating the amount of methane gas emitted during natural gas operations, including fracking, thanks to a new study published in the Proceedings of the National Academy of Sciences (PNAS).

    The study has 13 co-authors from several academic and research institutions, and used an aircraft to identify large sources of methane and quantify emission rates in southwestern Pennsylvania in June 2012. The authors discovered that emissions rates per second were 1,000 times higher than those estimated by the EPA for the same time period.

    “Methane is the second most prevalent greenhouse gas emitted in the United States from human activities,” the EPA website states. Carbon dioxide is the most prevalent, but it is not as damaging of a greenhouse gas as methane. “Pound for pound, the comparative impact of [methane] on climate change is over 20 times greater than [carbon dioxide] over a 100-year period.”..."

  • Reply to

    Thank you, Briana Mordick

    by bobbellis Apr 8, 2014 10:48 AM

    Tom. You don't know anything about Poplar Montana and the Fort Peck Indian Reservation....

  • Reply to

    Does Herbie.Carson read the Washington Post?

    by avi.morax Apr 15, 2014 2:41 PM

    LOLOLOLOLOL!

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