Ozlander: Magellan's news release of a contract to develop the Bakken shale and lower horizons is a significant step forward in monetizing any oil and gas in these lower zones. The fact that Vaalco is willing to pay all the costs in drilling 3 deep wells and pay additional funds is extremely beneficial to MPET. Be careful of the spinmeisters who are trying to use scare tactics in order to forward their personal agendas at the expense of the existing stockholders. It is well to note that MPET retains ownership of all the oil and gas interests from above the Bakken shale to the surface where current oil and gas production exists including further potential to add additional production and reserves above the Bakken which will be 100% owned by Magellan. Any question which I can help give answers to are welcome.
Babs, "They don't want the truth because they stand the truth" This is a very good move by Magellan but good news or bad they will come out of the woodwork to denigrate legitimate posters like you, me, carson and roncor.
Nice oz. Use a 2008 report and claim it is current. That is typical of the responses to any news about Magellan. Bring up old issues, scream them to the sky and try to scare people off so shares can be purchased on the cheap by oz or trupatriot or whoever is behind this misdirected info. Current EGY income statement indicates over 150 million in revenue so oz is over 50% low on his news.