Corporate Profile

Magellan Petroleum Corporation (the “Company” or “MPC”) is engaged in the sale of oil and gas and the exploration for and development of oil and gas reserves. The Company’s principal assets are a 100% equity interest in its subsidiary, Magellan Petroleum Australia Limited (MPAL) and 83.5% controlling interest in Nautilus Poplar, LLC (Nautilus).

MPAL owns interests in various oil and gas properties in Australia and the United Kingdom. MPAL’s primary Australian assets are Mereenie and Palm Valley fields located in the Amadeus Basin in the Northern Territory of Australia. MPAL has a 52% interest in, and is the operator of, the Palm Valley gas field, and has a 35% interest in the Mereenie oil and gas field.

Magellan Petroleum Corporation has an 83.5% controlling interest in Nautilus, based in Denver, Colorado. Nautilus owns and operates oil development assets in Roosevelt County, Montana known as the East Poplar Unit and the Northwest Poplar field.

In Canada, the Company has a direct 2.67% carried interest in the Kotaneelee gas field in the Yukon Territory of Canada.

Cautionary Note to U.S. Investors - The United States Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We may use terms on this web site, such as recoverable barrels of oil, oil-in-place, recoverable oil reserves and probable and possible reserves, that the SEC's guidelines strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our SEC filings on EDGAR. The Company's Form 10-K can be obtained by writing to the Company at 7 Custom House St., 3rd Floor, Portland, ME 04101. You can also obtain this form from the SEC by calling 1-800-SEC-0300.

The information furnished in this Website by the Company may not be the latest and most current data available. Although the Company will use its best efforts to keep this information current, it does not undertake any duty to continuously update all of the information contained herein.