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MAGELLAN PETROLEUM SUBSIDIARY SELLS CANADIAN OPERATIONS

 MAGELLAN PETROLEUM SUBSIDIARY SELLS CANADIAN OPERATIONS
 HARTFORD, Conn., July 6 /PRNewswire/ -- Magellan Petroleum


Corporation (NASDAQ: MPET) said its 51 percent owned subsidiary, Magellan Petroleum Australia Limited, has completed the sale of its Canadian operations for approximately $2 million.
 The company said the sale involved varying interests in approximately 38,000 gross acres in Alberta, B.C., and Saskatchewan.
 -0- 7/6/92
 /CONTACT: Arthur B. O'Donnell, 203-525-1202, for Magellan Petroleum/
 (MPET) CO: Magellan Petroleum Corporation ST: Connecticut, British Columbia, Saskatchewan IN: OIL SU: TNM


KD-LR -- NY004 -- 6530 07/06/92 09:32 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 6, 1992
Words:93
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