From MGM Energy late last week:
CALGARY, ALBERTA, Oct 29, 2013 (Marketwired via COMTEX) -- MGM Energy Corp. /quotes/zigman/38019/realtime CA:MGX 0.00% ("MGM Energy" or the "Company") announced today its financial results for the three month and nine month periods ended September 30, 2013.
The Company reported a net loss for the three month period ended September 30, 2013 of $3.0 million ($0.01 per share) as compared to a net loss of $2.1 million ($0.01 per share) for the three month period ended September 30, 2012. MGM Energy had working capital of $11.0 million as at September 30, 2013, which is expected to be sufficient to fund operations based on current level of expenditures until mid-2015. MGM Energy's full unaudited financial statements and accompanying Management's Discussion and Analysis will be filed shortly on the SEDAR website (www.sedar.com).
MGM Energy continues to analyze the results of the East Mackay I-78 well drilled in the Canol shale oil play in the winter of 2012/13 and anticipates that it will provide an update of its original oil in place estimate during the fourth quarter of 2013. The Company will also begin a formal search for a partner on its Canol shale oil play lands in the fourth quarter.
MGM Energy is a Canadian oil and natural gas exploration and development company active in Northern Canada. MGM Energy's common shares are listed on the Toronto Stock Exchange under the symbol "MGX".
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.