historical tidbit -- Magellan was once called "Santiago Petroleum"
"At various points in time, Magellan has had oil and gas holdings in countries as diverse as Australia, New Zealand, Israel, Spanish Sahara, England, Guatemala, Ecuador, Belize, Fiji, Canada, and the United States. In addition, during the 1960s and early 1970s, Magellan engaged in mineral, and in particular, uranium, exploration activities in Australia and New Zealand.".....
In the US they recently relocated their headquarters from Connecticut to Maine and then relocated to Colorado
FYI.....MPET's total revenues were only $7.1 million last year. A single busy Mobil station's revenue is larger than that. Oil and gas exploration companies need LOTS OF CAPITAL to succeed and capitalize on opportunities. It takes a lot of money to drill for oil and gas, folks!