DALLAS, Aug. 4, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring Magellan Energy Ltd. (Pink Sheets:MGLG). The report includes comparative and investment analyses, and pertinent industry information you need to know.
The investment report on Magellan Energy Ltd. (Pink Sheets:MGLG) should be of particular interest to other oil and natural gas companies: Anadarko Petroleum Corp. (NYSE:APC), Cabot Oil & Gas Corp. (NYSE:COG), Chesapeake Energy Corp. (NYSE:CHK) and ConocoPhillips (NYSE:COP).
It is available at: http://www.beaconequity.com/i/MGLG
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Magellan Energy Ltd. (MGLG) operates in the natural gas and oil industry, acquiring property leases in the Tennessee and Oklahoma area of the United States. The Company intends to develop its acquisitions to derive maximum production and income from existing under-performing assets.
In the report, the analyst notes:
"The Company's profitability and investor attention may track the spot price of oil and natural gas, the price, of which, exploded to $147 per barrel of oil and $13.5 per mcf (million cubic feet) of natural gas in late June of 2008 ... Since December, oil recovered to $65+ per barrel, while natural gas is now expected to reach $5 to $6 per mcf by the end of 2009.
"On July 22, MGLG released a news release regarding its Lankford Lease with the Company's partner, TMD Energy, which comprises 11 producing wells located on the Chattanooga Shale. The Chattanooga Shale natural gas reserve is substantial, with conservative valuations reaching 3.198 bcfg/mi.2 in area based on the assumption of 20 scf/ton of gas of the Chattanooga Shale. The Company cites geochemical data from Miller Petroleum Inc. to justify estimates placed on the Chattanooga Shale."
To read the entire report visit: http://www.beaconequity.com/i/MGLG
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