Message to our Shareholders, April 29, 2009

To: Our Shareholders
From: Magellan Petroleum Corporation
Date: April 29, 2009

On April 17,2009 we announced that the Company’s 2008 Annual Meeting of Shareholders will be held on May 27, 2009, at 1:00 P.M., local time at the Raleigh-Durham Airport Courtyard by Marriott Hotel, 2001 Hospitality Court, Morrisville, NC 27560 (telephone: 919-467-9444). This is a new location from prior years. This is located at the Raleigh-Durham Airport and was selected to make your travel to and from our meeting as convenient as possible. The room rates at the hotel are reasonable for those of you who plan to stay overnight. We have obtained preferred room rates at a cost of $95 per night. The deadline for getting this rate is May 5, 2009. Click here to reserve your room online.

The hotel is located at the Raleigh-Durham airport. And there is a free shuttle from the airport to the hotel.

We look forward to seeing many of you at the meeting. Have a safe trip and we hope you find our meeting informative and exciting.

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.