Magellan Petroleum Corporation (MPET) - 500 Beiträge pro Seite

[benefactor [KommA]]

Magellan Petroleum Corporation (MPC) is engaged in the sale of oil and gas, as well as in the exploration for, and development of, oil and gas reserves. As of June 30, 2003, MPC`s principal asset was a 55% equity interest in its subsidiary, Magellan Petroleum Australia Limited (MPAL). MPAL`s major assets are two petroleum production leases covering the Mereenie oil and gas field (35% working interest) and one petroleum production lease covering the Palm Valley gas field (52% working interest). Both fields are located in the Amadeus Basin in the Northern Territory of Australia. Santos Ltd. owns a 48% interest in the Palm Valley field, a 65% interest in the Mereenie field and 18.2% of MPAL`s outstanding stock. Origin Energy Limited owned 14.5% of MPAL`s outstanding stock as of September 2, 2003. MPC also has a direct 2.67% carried interest in the Kotaneelee gas field in the Yukon Territory of Canada.
http://www.magpet.com/

Book Value/Share ($) 1.05
Cash Per Share ($) 0.85
Total Debt/Equity (MRQ) 0.00

Revenues (Thousands of U.S. Dollars $)

Quarter 2003 2004
Q1 3,188 5,731
Q2 3,884 4,840
Q3 4,071 5,110
Q4 4,452 --

Earnings Per Share (U.S. Dollars $)

Quarter 2003 2004
Q1 -0.01 0.04
Q2 0.01 -0.02
Q3 0.01 0.01
Q4 0.03 --

Institutional Ownership
http://www.lionshares.com/details.cfm?SEARCH=symbol&CUSIP=55…

[benefactor [KommA]]

Magellan Petroleum Corporation Announces Board Resignations of James R. Joyce And Election of New Chairman of The Board Of Directors
Thursday June 24, 11:19 am ET

MADISON, Conn., June 24 /PRNewswire-FirstCall/ -- Magellan Petroleum Corporation (Nasdaq: MPET - News) announced today that James R. Joyce, the Company`s retiring Chief Executive Officer, President and Chief Financial Officer and a Company director since 1993, has submitted to the Company his resignations, both effective as of June 30, 2004, as a director of the Company and as a director of Magellan Petroleum Australia Limited, the Company`s majority-owned subsidiary (MPAL).

As previously announced, Mr. Joyce will resign as President and Chief Executive Officer and Chief Financial and Accounting Officer of the Company, effective June 30, 2004. The Company`s current Treasurer, Daniel J. Samela, will assume, effective July 1, 2004, the roles of Chief Financial and Accounting Officer and Acting President and Chief Executive Officer of the Company.

The Board of Directors of the Company has determined not to fill the Board vacancy created by Mr. Joyce`s resignation at this time. Accordingly, the Board has amended the Company`s Bylaws to provide that the Company will maintain a Board of four members in the future.

The Company also announced that Walter McCann has been elected Chairman of the Board of Directors of the Company. Mr. McCann, age 67, is President Emeritus of Richmond, The American International University, London, England and a former President of Athens College in Athens, Greece. He has served as a director of the Company since 1983 and a director of MPAL since 1997.
http://biz.yahoo.com/prnews/040624/nyth089_1.html