Magellan Announces Activation for Recompletion Program

Magellan Energy Ltd. announced today that their “Recompletion Program” for over 100 oil and gas properties in Oklahoma will commence immediately.

Proex Energy Management from Houston Texas will be the petroleum consulting company directing the field operations on the first “ten well package” recompletion program to begin immediately.

The first well that Magellan will be recompleting will be the “Martens 1-13” in Major County, Oklahoma. This well was previously drilled by another operator in the early 1980s and still has good oil and gas production reserves in the producing reservoirs. The primary producing zone will be the “Mississippi Lime,” with other potential zones in the upper the well bore. It is anticipated to produce some oil, but primarily gas.

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