Matthew Ciardiello, Chief Financial Officer of Magellan Petroleum (NASDAQ: MPET), presented today at EnerCom’s The Oil & Services Conference™ 13. Magellan Petroleum Corporation is an independent oil and gas exploration and production company focused on the development of CO2-EOR projects in the Rocky Mountain region. Historically active internationally, Magellan also owns significant exploration acreage in the Weald Basin, onshore UK, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia, which the Company currently plans to farm out. Magellan’s strategy is to enhance shareholder value by maximizing the value of its CO2-EOR business and international projects. Information about the Company is routinely posted on its website at www.magellanpetroleum.com.
During the company’s breakout session, management was asked the following questions:
- What’s the transport method for CO2?
- Have you water-flooded Poplar yet?
- What is the price of CO2?
- Have you looked at other potentials, have you looked at the potential for polymer flooding for instance?
- How much money a year are you burning right now?
- The securities you are going to sell—what is their valuation?
- Will you move CO2 from Poplar to Farnham?
- Can you take an offtake at Farnum?
- You have new management in the past 3 years, can you talk about that?
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