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Press Releases

Magellan Petroleum Corporation is a publically traded company that often appears in the news. We have created this archive of news stories and press releases to inform the public of new developments.

	Australian Foreign Investment Review Board (FIRB) Indicates "No Objection" to Magellan's Acquisition of Santo's 40% Interest in the Evans Shoal Natural Gas Field, Offshore Australia
	Wednesday, June 09, 2010
	Portland, Maine, June 9, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) (“Magellan” or the “Company”) announces that Australia’s Foreign Investment Review Board (FIRB) has indicated they have “no objection” to Magellan’s acquisition of Santos Limited’s (Santos) 40% interest in the Evans Shoal natural gas field (NT/P48). The Board examines proposals by foreign interests to undertake direct investment in Australia and makes recommendations to the Government on whether those proposals are suitable for approval under the Government's policy.

	Magellan Petroleum Corporation Announces Additional $15.6 Million Investment by its Strategic Investor
	Tuesday, May 18, 2010
	Portland, Maine, May 12, 2010 -- Magellan Petroleum Corporation (the “Company”) (NASDAQ: MPET) (ASX: MGN) announced that the Company has signed a term sheet (the “Term Sheet”) with Young Energy Prize S.A. (“YEP”), a Luxembourg corporation, embodying an agreement in principle for an additional equity investment in the Company of $15.6 million.

	Magellan Petroleum Corporation Announces Third Quarter Results
	Wednesday, May 12, 2010
	Portland, Maine, May 12, 2010 -- Magellan Petroleum Corporation (the “Company”) (NASDAQ: MPET) (ASX: MGN) reported consolidated net income of $1.2 million ($.02 per share) on gross revenues of $5.1 million for its fiscal third quarter ended March 31, 2010, as compared to net income of $391,000 ($.01 per share) on revenues of $5.5 million in last year’s third quarter. Working capital was $39.8 million at March 31, 2010, an increase of $2.6 million from June 30, 2009 (fiscal year end).

	Magellan Presents Company in NYC and At Upcoming OGIS London Event
	Friday, May 07, 2010
	Portland, Maine, May 7th, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) Representatives of Magellan Petroleum, including William H. Hastings, President and CEO, Magellan Petroleum completed initial presentations in New York City on 5th and 6th May reviewing the Company, its legacy and new assets, certain valuation assumptions, and suggested equity financing options.

	MPET reported as Bullish and Efficient
	Friday, April 16, 2010
	Portland, Maine, April 16, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) was reported as being in the top 5 companies in the Oil and Gas E&P industry with the Smallest Short Interest and with the Highest Level of Efficiency.

	Magellan Petroleum Corporation Announces Agreement to Acquire an Interest in the Evans Shoal Natural Gas Field, Offshore Australia
	Thursday, March 25, 2010
	Portland, Maine, March 25, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) announced the execution of an agreement by its wholly-owned subsidiary, Magellan Petroleum Australia Limited (MPAL), with Santos Limited (Santos) to purchase Santos’ 40% interest in the Evans Shoal natural gas field (NT/P48), located in the Bonaparte Basin offshore Northern Australia.

	Magellan Petroleum Corporation Announces the Grant of a New Exploration Permit, Offshore Northern Territory, Australia and Updates UK Drilling Timing
	Wednesday, March 24, 2010
	Portland, Maine, March 24, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) (“Magellan” or the “Company”) announces the award of an offshore exploration permit, Northern Territory, Australia and updates the timing of two exploration wells to be drilled onshore in the United Kingdom.

	Magellan Petroleum Corporation Announces Election of J. Robinson West as New Director
	Friday, March 12, 2010
	Portland, Maine, March 12, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) announced that it has, effective March 10, 2010, elected J. Robinson West to fill a newly created vacancy on the Company’s Board of Directors, which has been increased in size from seven (7) to eight (8) directorships by amendment of the Company’s Bylaws. Mr. West will serve as a Class I director until the Company’s 2010 annual meeting of shareholders, when he is expected to be nominated for shareholder approval to serve a full three-year term on the Board.

	Magellan Petroleum Outlines Montana Field Consolidation, Changes to Existing Warrant Agreement, and Australian Gas Sales Update
	Thursday, March 11, 2010
	Portland, Maine, March 11, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) (“Magellan” or the “Company”) announced the completion of a transaction in North America, the amendment of a warrant agreement, and an update on gas sales flow updates in Australia.

	Magellan Appoints New Chief Financial Officer and Treasurer
	Wednesday, February 10, 2010
	PORTLAND, Me., February 10, 2010 -- Magellan Petroleum Corporation (NASDAQ: MPET) (ASX: MGN) (the “Company” or “Magellan”) announced the appointment of William E. Begley, Jr. as its new Chief Financial Officer (CFO) and Treasurer. Daniel J. Samela has resigned as CFO, Chief Accounting Officer and Treasurer, but will remain with the Company and continue to serve as Vice President – New Ventures.

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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.