Magellan's horizontal wells has been out of production for the last quarter, IMO Is being reworked. Last year it produced around 6,000 barrels of oil Would be great if it came back into production producing 3,000 to 4,000 barrels every month.
"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."........
Q. What have they ever succeeded with?
A. Nothing, except making some money for a few insiders