Magellan Energy, Ltd. engages in the extraction and production of oil and gas. The company focuses on the development, acquisition, stimulation, rehabilitation, and asset improvement of small to medium-sized oil and gas properties. In March 2006, the company has signed a preliminary agreement to acquire a producing oil and gas property. The identified property has existing production anticipated to be approximately 20,000 barrels per month. Estimated proven, producing, recoverable reserves amount to 48 Million Barrels. Additional potential recoverable reserves amount to 34.3 Million Barrels of natural gas.
magellan energy ltd (MGLG:Grey Market)
1370 Hurontario Street
Mississauga, ON L5G 3H4
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