Magellan Petroleum Corporation (MPET)
Magellan Petroleum Corporation's chart shows a continued upward movement after a recent bounce from strong support. Magellan announced at the annual meeting, the Company's shareholders overwhelmingly voted, by more than a 3-to-1 margin, in favor to authorize the Company's Board of Directors to implement a reverse stock split of the Company's common stock at a ratio of not less than 1-for-2 and not greater than 1-for-10 at any time before December 31, 2009, with the exact ratio to be determined by the Board of Directors.
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