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MECHANICAL PROBLEMS FORCE ABANDONMENT OF PV-8

 HARTFORD, March 19 /PRNewswire/ -- Magellan Petroleum Corporation (NASDAQ: MPET) said its Australian subsidiary has completed site preparation for the drilling of another development well in the Palm Valley gas field in central Australia's Amadeus Basin.
 The preceding well, PV-8A, was abandoned today due to mechanical problems created by stuck drillpipe before reaching its planned total depth in the Pacoota reservoir formation. Prior to abandonment, the well had logged small noncommercial gas flows but had not encountered the field's main fracture system, the company said.
 Magellan said the new well, PV-9 -- the drilling of which will begin in about eight days -- has been sited on the crest of the 26-mile-long structure about two miles east of PV-2, one of the fields's most prolific producers, which recorded a flow of nearly 70 million cubic feet per day when it drilled into the main fracture system.
 Now in its 10th year of production, the Palm Valley field currently is supplying gas at the rate of about 22 million cubic feet per day to the 920-mile Amadeus-to-Darwin pipeline, the company said.
 -0- 3/19/93
 /CONTACT: Arthur B. O'Donnell of Magellan Petroleum Corporation, 203-525-1202/
 (MPET)


CO: Magellan Petroleum Corporation ST: Connecticut IN: OIL SU:

SM-KW -- NY002 -- 7758 03/19/93 08:00 EST
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Publication:PR Newswire
Date:Mar 19, 1993
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