UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 19, 2001
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Magellan Petroleum Corporation
(Exact Name of registrant as specified in its charter)
Delaware 1-5507 06-0842255
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
149 Durham Road, Oak Park - Unit 31, Madison, CT 06443
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 245-7664
Not Applicable (Former name or former address,
if changed since last report.)
FORM 8-K
MAGELLAN PETROLEUM CORPORATION
Item 5. Other Events
On September 19, 2001, the Company reported that the Carbine-1 well in
Exploration Permit WA-283-P is being plugged and abandoned having reached a
total depth of 1561 meters. At completion of P&A operations the Sedco 703
drilling rig will move to Exploration Permit WA-281-P where it is expected to
spud the Marabou-1 well on November 22nd. The Company's 51% owned subsidiary,
Magellan Petroleum Australia Limited, has a 17.5%% interest in the permit.
The abandonment of the well would result in a pre-tax charge to
earnings in the Company's second quarter ending December 31, 2001 of
approximately U.S.$725,000.
Statements in this report 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.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits -
(99) Additional Exhibits
(a) Press release of the registrant dated November 19, 2001.
FORM 8-K
MAGELLAN PETROLEUM CORPORATION
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MAGELLAN PETROLEUM CORPORATION
(Registrant)
By /s/ James R. Joyce
Nam James R. Joyce
Title: President
Date: November 19, 2001