MGM Energy Corp MGMCF

Permit Withdrawal

[500River]

I think this is more about not wanting to spend $mm,s on and Environmental Assesment for an exploratiory well. An EA is more appropriate at the Field Development stage....

[farml1234]

500River whats with the wishy - washy on the PR they talking about two H wells ! Someone is doing a bad write up on the last few PRs

[500River]

There was originally to be two wells, one vertical(2013) and one horizontal(2014).  The horizontal well application was sent to an Environmental Review which, I'm told, could have taken anywhere from 8 ths to two years - either way, it couldn't be drilled in 2014 even if the process resulted in a permit ( which was far from certain)

[SmallBet]

Does this announcement not sound very strange to anyone???  look @ the date of the release "October" Not November!  why didn't this come out appropriately?  also in the meantime, they go to market asking for fund raising by issuing rights... am I reading too much into this?

[shambano1]

you are reading it wrong, this press release is date 7-nov-2012 but is referencing 4-oct-2012, nothing to see here folks just a timely press release to maybe disswade shareholders from exercising their rights???   now would anyone want to diswade shareholders from exercuising their rights? nothing has changed from before, they still have a potentially big shale oil discovery ad a vertical

[glacierman]

You can't look at one story in isolation.    But when you look at some other develpments with Husky a disturbing trend is emerging.    In Husky's third quarter report, there was a shift in emphasis to the Rainbow Muskwa shale play  with 4 HORIZONTAL wells drilled and 6 more on the way.     It looks to me that Alberta is a "