Theory:
Magic is energy. To best show my thoughts, think of magical energy as water. There is water within the air around us, this would be Ambient Energy. There are also lakes, rivers, streams and oceans of water which, would relate to streams of magical energy more commonly called Leylines, Magical Pools , Nodes and what not. They, as their water counterparts, would all vary in strength and size going from a babbling brook to a raging river to a calm lake to the wind tossed sea.
When a caster uses a spell, they release the spell energy for a desired effect. For example, a fire ball. Magical energy is released in the form of a fire ball. When the fireball is completed, what happens to the magical energy that went into it? Part of it is transformed into fire and part of it will slip away into the ambient energy. In an area where several spells have gone off as in a fight or magical duel, there may very well be Residual Energy that could remain there for a long while. Much like after a hard rain, there might be large puddles of water that slowly dry up. So too would it be with magical energies, I believe. They would pool in one place and slowly drift away into the ambient energy till there was nothing left.
A caster who draws their power from a natural source of energy such as a lake or a volcano would perhaps be a specialty case. As for classification, there are different degrees for these types. Meaning a caster who has just discovered they can draw magical power from a lake will not be as strong as say someone who has been doing it for decades. As with people, there are many different shades of magic, each varied in their workings. It could perhaps be said that a beginner in a field (i.e. an Apprentice) could only draw small amounts of energy, or only do so once a day even. Where as a Master would pull more as well as more often.
As for role playing, perhaps a caster of this type of magic would call themselves an Energy Magician/Magi/Adept...etc. There would be different teaching and so forth depending on the type of study and technique used... such as "I am Migan, the White Winds Magician". White Winds is a Mage school which I pulled from a series of books I have read. Different schools may have slightly different scales they follow as far a ranking goes.
Life Energy to me, still falls under the "Energy" category. I think that it is safe to say that for the most part, magic is the use of energy to accomplish a desired task. The different teaching of the Mage Schools would be different in the ways they teach one to use, harness and control that energy.
There would also be natural nodes of energy. By nodes, I mean a gathering place for energy or a place where two leylines (streams/rivers etc..) of magical energy cross, much as rivers and streams flow to a lake or ocean. These nodes (lakes) of magical energy could be tapped into and used by a caster with the sufficient strength and knowledge to do so.
Mind Magic Theory
Hmmm let me see if I can explain this well enough. First off, Mind Magic is not magic in the normal sense of the word. It is simply called that because it is not fully understood and hence has been feared and labeled "magic". Psionics... let me see if I can recall just exactly what that is from my AD&D days. Psionics is the use of one's mind energies for the purpose of attacking as well as defense (feel free to correct me if I am wrong). In this sense, I guess that it could fall under "mind magic". Typically though, "mind magic" has been the term related to talents that are for accomplishing a set task. For instance, an Empath can sense as well as effect emotions in others. A Telepath can hear others thoughts as well as project thoughts. Someone with the gift of Far Sight has the ability to see things within their minds that are great distances away. Fetchers have the ability to bring things to them from distances away. Hence a person with Far Sight, working with a Fetcher, could bring an item to them that is miles away. One to see it and share that sight with the Fetcher, who would in turn bring the item to themselves.
There are many different "gifts" which fall into the category of Mind Magic. Mind Healers, who like their body counterparts, heal the mind. I guess you could include any mental gift into this category. I do not remember if psionics is something you are born with or not. Not everyone can start a fire with a thought, as a Fire Starter can. So as to how these "gifts" are different from psionics, I would have to say they are not in that they use the mind and its energy to work. Yet I would have to say also that each "gift" is different unto itself. Can you start a real fire with psionics? I don't believe so, but I could be wrong..."the mind is the first thing to go." :-)
Coming soon, an in-depth look at the theory of the multi-verse and how it related to everything, including Magic.
Greetings visitor! What appears on this page are my own personal views on Magic and how it works. Now, so that you do not think me totally without knowledge in this area, let me just say that I have read over a thousand fantasy books and what follows is a combination of the various forms/theories of Magic used within those books. This page is by no means meant to be the one true way of magic but more as a guideline upon which to build. I would welcome any comments, suggestions or additions to this page. Please mail them to me directly at necroseth@geocities.com. I do reserve the right to exclude any submissions I feel do not relate, pertain to or substantiate the general groundwork of this site.