Exhibit 99(a)
                         MAGELLAN PETROLEUM CORPORATION
                                  news release

                               MAGELLAN KOTANEELEE
                             REVENUE SHARE INCREASED


         MADISON, Conn., May 23, 2001 Magellan Petroleum Corporation (NASDAQ:
MPET; Boston & Pacific: MPC) said the Company has been informed by one of the
Kotaneelee gas field working interest partners that Magellan's carried interest
account reached undisputed payout status on January 19, 2001. According to the
spokesman, the field generated total net revenues of approximately $5,700,000
(Cdn.) in January after the payout date and Magellan's 2.7% share was
approximately U.S.$100,000. The Company had previously reported on May 3, 2001
that it expected to receive aggregate net proceeds for the two months ended
February 28, 2001 of approximately U.S.$100,000.

         Statements in this press release that are not historical in nature are
intended to be - and are hereby identified as -- "forward-looking statements"
for purposes of the "Safe Harbor Statement" under the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those indicated in the forward-looking statements. Among these
uncertainties are the cost, duration and ultimate outcome of the Kotaneelee gas
field litigation, oil and gas prices, levels of oil and gas production and
capital expenditures which may be made by operators of properties in which the
Company has interests.


                          Contact: James R. Joyce, at (203) 245-7664