I am reminded of who made the money during the CA gold rush. It was the suppliers of goods not the prospectors, most of whom went bust. Need for communications birds is a limited amount so a company like ORB that builds them and has other lines of business as well made itself an entity that ATK was happy to take up in a merger of sorts.
Will Celtique appeal? There is substantial opposition to fracking in national parks but I cannot seem to get an answer as to where the totality of leases lie in which Celtique and Magellan are partners. Are there other drilling options which might prove worthwhile even if conventional wells? Does Celtique's concern about opposition to drilling in basically all of SE UK seem to be justified? I would guess this is another issue driving down the price of Magellan shares.
I do not believe you answered the question as to whether or not Magellan's other leases are in national parks. I would not want people drilling in Yellowstone or in the Olympic National Park in my home state either so the Fernhurst decision does not bother me.
Not really wild about this current drift downward in share price. Earnings report should be out any day and some news of the CO2 project would be most welcome. Overall, I think the lack of information and the overall decline in oil prices are having an effect on Magellan's price. OK, Avi, give me the thumbs down just because you seem to need to do so. Then others can share their thoughts and we can go on to other daily events.
Are they all in national parks? That would seem to be a vital piece of information that you have left out.
Remember when Orbital was nearly 50 dollars a share and they had accomplished virtually nothing? That is my only point about SpaceX as a stand alone entity. I doubt if it would be profitable given all the costs involved even with its ISS contract. Orbital was burning through funds pretty quickly and so must be SpaceX. Of course the price of the supposed shares would rely on the story and dreams behind the company. Even if we combine Tesla and Solar City and battery ideas, they are all high cost.
What can one say? Jimmy is Jimmy and it seems he spent much time lambasting ORB's chances all the way from 12 to 26 whenever he was asked about it.
Nope, was just taking a motion sickness pill to remedy the dizziness your responses cause.
Avi, what will be your excuse if production is up? Will you blow it off by pointing out revenues from a few years ago under different management? I am only interested in what is currently happening and whether or not that will bode well for my investment.
Some posters have posited what a share issue of SpaceX would equate to in dollars per share and the guesstimates have been pretty strange. What with two launches being destroyed due to malfunctions in the past month or so I think that share price might suffer. SpaceX has growing pains like any other venture of this sort and the costs are huge to do what they envision such a a Mars suitable landing/return craft. An underwriter would have to determine potential profitability for the whole range of ventures before ever bringing this company into the public stock sector and I suspect that would be a tough metric to determine.
Any measurement of Magellan progress in extracting boe/day or a total for the year has to include the understanding that legacy assets were sold off after being in hiatus and not contributing much of anything since about 2012. I am more interested in whether or not Poplar remediation work and new drilling actually increased total barrels of oil for the year vs the year before. I know Magellan is not gong to make a profit this year and the company has already indicated that in previous releases.
"You're on your own with this one"? Does that mean you are not going to post another thing about this well? If so, thank you because Magellan investors are well aware of the risks in drilling and yet will continue to watch for reports from Horse Hill. There is no pumping in posting a best guess of a timetable.
Quite simply, for your edification, I would be surprised that many hold shares higher than 4 since that is a price last reached several years ago. Thus, it is quite easy to take a position that most shares are in the lower range from 1-4 which would mean most purchased below 2 dollars.
Yup, I think that was about the high after the discovery of Mereenie/Palm Valley fields. Has not gotten close to that since but most of the people holding shares have purchased them near the lower end of the range from 1 to 4 dollars a share in the last 10 years.
Avi, you just do not seem to get it. Denton at least was talking about a Magellan property area. Your drifting into Texas or wherever does not apply to what investors on this board want to know. At least indicate your posts are partially off topic even if they do relate in some way to the oil industry.
Is Magellan operating in Texas? Please enlighten me avi as I may have missed the headline of them buying into some properties at Eagle Ford or some other prolific area.
Once again, your quick response proves you spend far too much time on the Magellan site and you really should get out in the sunshine and fresh air.