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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (768)	5/31/2013 8:00:30 AM
From: Goose94	Read Replies (1) of 202923

MGM Energy (MGX-T) returns natural gas licences May 31, 2013 MGM Energy has given up the dream of tapping into natural gas in the Arctic. The Globe's Nathan VanderKlippe writes in the Ticker column that MGM Energy has returned to the Crown five exploration licences. Those licences had carried spending obligations of $6.3-million. MGM's vice-president of exploration John Hogg says: "We were there to drill for natural gas to support a pipeline. As the [Mackenzie Valley] pipeline went from being a sure thing to not there, the option of us ever drilling up there looked bleaker and bleaker." MGM aims to continue a search for oil in the central Mackenzie Valley.

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