<ARTICLE>                     5
<LEGEND>
     (Replace this text with the legend)
</LEGEND>
<CIK>                         0000061398
<NAME>                        MAGELLAN PETROLEUM CORPORATION
<MULTIPLIER>                                   1
<CURRENCY>                                     U.S. DOLLARS
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                              JUN-30-1995
<PERIOD-START>                                 JUL-01-1994
<PERIOD-END>                                   JUN-30-1995
<EXCHANGE-RATE>                                1
<CASH>                                         8982582
<SECURITIES>                                   0
<RECEIVABLES>                                  1913357
<ALLOWANCES>                                   0
<INVENTORY>                                    208334
<CURRENT-ASSETS>                               11104273
<PP&E>                                        57877431
<DEPRECIATION>                                20516580
<TOTAL-ASSETS>                                 48828208
<CURRENT-LIABILITIES>                          2298049
<BONDS>                                       0
<COMMON>                                       245437
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<OTHER-SE>                                     18663259
<TOTAL-LIABILITY-AND-EQUITY>                   48828208
<SALES>                                        13556565
<TOTAL-REVENUES>                              15423972
<CGS>                                          0
<TOTAL-COSTS>                                 10258991
<OTHER-EXPENSES>                              2965605
<LOSS-PROVISION>                               0
<INTEREST-EXPENSE>                            27937
<INCOME-PRETAX>                               2199376
<INCOME-TAX>                                  1378533
<INCOME-CONTINUING>                          820843
<DISCONTINUED>                               0
<EXTRAORDINARY>                                0
<CHANGES>                                     0
<NET-INCOME>                                  820843
<EPS-PRIMARY>                                  .03
<EPS-DILUTED>                                  .03