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MAGELLAN PETROLEUM ANNOUNCES SUCCESSFUL OPEN-HOLE COMPLETION AT CENTRAL AUSTRALIA WELL

 HARTFORD, Conn., June 16 /PRNewswire/ -- Magellan Petroleum Corporation (NASDAQ: MPET) today said its subsidiary, Magellan Petroleum Australia Limited, has made a successful open-hole completion at its Palm Valley No. 9 development well in central Australia's Amadeus Basin.
 During a short clean-up flow, the well logged a measured gas flow of 17.4 million cubic feet per day through a one-inch choke from the open- hole interval (7,324 - 7,413 feet) in the P-2 sequence of the Pacoota sandstone reservoir formation, the company said.
 A Magellan spokesman said the Australian unit is preparing to shut in the well, remove the drilling rig, and conduct more definitive production testing, pointing out that PV-9 is the first well in the field to record a commercial gas flow from the P-2 zone.
 -0- 6/16/93
 /CONTACT: Arthur B. O'Donnell, 203-525-1202, for Magellan Petroleum Corporation/
 (MPET)


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

GK-SH -- NY053 -- 2681 06/16/93 14:29 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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