<ARTICLE> 5 <CIK> 0000061398 <NAME> Magellan Petroleum Corporation <MULTIPLIER> 1 <CURRENCY> U.S. Dollars <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> JUN-30-1997 <PERIOD-START> JUL-01-1996 <PERIOD-END> MAR-31-1997 <EXCHANGE-RATE> 1 <CASH> 12,203,348 <SECURITIES> 946,946 <RECEIVABLES> 1,732,372 <ALLOWANCES> 0 <INVENTORY> 282,397 <CURRENT-ASSETS> 15,165,063 <PP&E> 73,032,381 <DEPRECIATION> 28,213,108 <TOTAL-ASSETS> 60,503,105 <CURRENT-LIABILITIES> 2,470,482 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 248,512 <OTHER-SE> 23,533,512 <TOTAL-LIABILITY-AND-EQUITY> 60,503,105 <SALES> 13,965,661 <TOTAL-REVENUES> 15,743,890 <CGS> 0 <TOTAL-COSTS> 8,957,404 <OTHER-EXPENSES> 2,394,971 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 40,216 <INCOME-PRETAX> 4,391,515 <INCOME-TAX> 2,754,292 <INCOME-CONTINUING> 1,637,223 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 1,637,223 <EPS-PRIMARY> 0.07 <EPS-DILUTED> 0.07