Magellan Petroleum Corporation (NASDAQ:MPET)
About Magellan Petroleum Corporation Magellan Petroleum Corporation (MPC) is engaged in the sale of oil and gas and the exploration for and development of oil and gas reserves. As of June 30, 2010, MPC had three operating segments: 100% equity interest in its subsidiary, Magellan Petroleum Australia Limited (MPAL); 83.5% controlling member interest in Nautilus Poplar, LLC (Nautilus), and a 26.3% working interest in the Poplar Fields in Montana. The Company owns two petroleum production leases covering the Mereenie oil and gas field (35% working interest), one petroleum production lease covering the Palm Valley gas field (52% working interest) and seventeen licenses in the United Kingdom, five of which are operated by MPAL. In March