BWR Begins Tracking Magellan Petroleum Corp.

0 Comments | M2 Presswire, November, 2006

M2 PRESSWIRE-6 November 2006-Oil and Gas News: BWR Begins Tracking Magellan Petroleum Corp.(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:06112006 Magellan Petroleum has gone around the world to explore for oil and gas. It operates mainly through Magellan Petroleum Australia Limited (MPAL), a wholly owned Australian subsidiary.

MPAL's chief assets are interests in the Mereenie oil and gas field and the Palm Valley gas field in the Amadeus Basin in Australia's Northern Territory. MPAL and Magellan Petroleum also own interests in oil and gas properties in New Zealand, Canada, and the UK. The company has proved reserves of 25.4 billion cu. ft. of natural gas and 487,000 barrels of oil. MPAL's main customer is the Northern Territory's Power and Water Authority....

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