SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 15, 1997
Magellan Petroleum Corporation
(Exact name of registrant as specified in its charter)
Delaware 1-5507 06-0842255
State or other jurisdiction (Commission (IRS Employer
of incorporation File Number) Identification No.)
149 Durham Road, Oak Park - Unit 31, Madison, CT 06443
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (203) 245-7664
(Former name or former address, if changed since last report.)
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FORM 8-K
MAGELLAN PETROLEUM CORPORATION
Item 5. Other Events
On May 15, 1997, the Company reported that the Dogwood 14O-1
well in Baca County, Colorado has been plugged and abandoned after two tests
failed to recover any hydrocarbons. As previously reported, the Company will
write off all of the remaining costs associated with the project during the
fourth quarter of fiscal year 1997. The estimated after tax charge to net income
will be approximately $1.1 million.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
MAGELLAN PETROLEUM CORPORATION
(Registrant)
By /s/ James R. Joyce
Name: James R. Joyce
Title: President
Date: May 15, 1997
