I damned well better see gas in the very low two dollar range!!!
I have just become numb to this whole collapse in share price. So many smaller companies are suffering the same fate that I am probably in the "misery loves company" crowd.
They are able to insure part of the process but not the whole thing. This business is still just risky enough that insurance companies are not going to cover the whole shebang--they leave that up to the taxpayer through NASA contracts.
In 2009 and 2003 oil was in the 50 dollar a barrel range and Magellan was squeaking by but a lot of that was natural gas sales from Oz. Different times and a different world condition. They only got into the Poplar deal in 2009 so you are trying to compare a regulated gas market in Oz with some oil revenues to no gas and collapsing oil prices today in the U.S. Apples and Oranges I think.
There you go! Yes, they suck. I have never said otherwise although I thought they would be better at times than they were and that was one reason I posted years ago that I thought Magellan should expand beyond Oz. I was hoping they would head to Texas but they didn't and we are now what we are. I honestly do not think I have been a pumper so much as a "hope it comes good" advocate based on what looked like good potential. But neither Magellan or a slew of other small explorers could have foreseen this collapse in oil prices. 75 dollar oil and Magellan is no worse than break even but we have 45 dollar oil and....
Damn, that is funny. Actually I only own 10% and before being sidelined with an infection she had two seconds and a first in three races. Did you just realize that your repetitive comments about Magellan were getting so few responses that you had to try another tact? Well, it was good for one reply so I hope you feel better.
I am offended. You left out Tommy. And the answer is no, they are not the same person.
I think the MPET jump had more to do with the well approval on permit 143 which is 10 miles west of Horse Hill in the UK. The jump was on Thursday with about 1.8 million "old shares equivalent but on Friday MPET only traded about 40,000 "old shares equivalent. I really expect little from Magellan unless someone offers to buy their UK stake before the flow test at Horse Hill or, after the flow test starts, rumors move the share price and someone decides to step in and buy us out.
Try separating gross from net and quit using the general term revenues. No honest poster only comments on the top line.
Really, avi, 1977 music is new? Sort of like your Nautilis posts which you also imply is relevant. At least I listen to music (up through the 70's) that can be understood when the vocals start.
Lonely, I am so lonely, I have no one but taffy, to reply to my posts
I am a poster, a lonely poster, sitting at my keyboard, all on my own...
with apologies to Bobby Vinton
Yahoo says no trades since official opening bell and, after 200,000+ shares traded yesterday, I find that kind of interesting. Also, UKOG up again today.
I would be surprised, given the overall market, if it did not drop some. Management is asking for patience to get everything up to maximum efficiency but patience is not an attribute with many traders.
2 cent loss per share was not what I expected and it looks like more work has to be done. Expansion into more Costco outlets looks promising and hopefully efficiencies in the new extraction facility will improve although we may not know how much for a year or more. Weather played a role this quarter but that is always possible.
I did indeed post that as a general concept. It does not make it wrong or necessarily imply a value judgement on longs or shorts.
On about 2 million equivalent old shares?? What the heck was that all about if not some kind of manipulation or rumor mongering? Could the quick jump have been tied to UKOG (Horse Hill connection) moving up about 30% today?