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Magellan Petroleum Corporation Message Board

  • wright.tom64 wright.tom64 Feb 11, 2013 8:18 AM Flag

    Not much change in quarterly report

    Revenues for Oct-Dec 2012 seem about the same as July-Sept 2012 and losses will continue until projects like the CO2 initiative show results and more gas is sold in Australia. Magellan has taken over 100% interest in the first two deep wells that Vaalco drilled with results of the third well still not reported. Still a speculative buy and I will be eager to know when Celtique plans to drill the well on PEDL 234 in the UK.

    Sentiment: Buy

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    • tonywagambie Feb 11, 2013 9:40 AM Flag

      Sure, you're the house stooge who only reports happy horse poop. The cash is still declining while liabilities are increasing. Revenues stink.

      Magellan was founded in 1957 and incorporated in Delaware in 1967. The Company's common stock has been trading on NASDAQ since 1972. This is what is known as a perennial loser.

      You're just a sad perennial "cheerleader", Tom.

      Sentiment: Strong Sell

      • 1 Reply to tonywagambie
      • More old news tony? 1957? 1967? There was nothing in my post that resembled cheerleading and you know it. The company was very clear about what they will have to pay to cover Sopak's tax liability and, if you read their report carefully, I believe you will conclude (as I have) that the deeper Vaalco drillings have not amounted to much and Magellan is not saying anything that would negate that assumption. I suspect we are 1-2 years away from solidly positive news and am willing to wait but that does not mean anyone else should.

        Sentiment: Buy

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