Magellan Acquisition Offer Completed

May 2006

“We selected TM Capital and Baron Partners to complete this important assignment because we believed that, as M&A International members, they would work together seamlessly to complete this complex cross-border transaction. We could not be more pleased with the successful outcome they have achieved for our company.”

- Walter McCann, Chairman, Magellan Petroleum Corp.

	Magellan Petroleum Corporation (NASDAQ: MPET) is an oil and gas company which owned 55.1% of Magellan Petroleum Australia Limited (MPAL), a publicly traded Australian oil and gas company
	Magellan retained TM Capital Corp. and Baron Partners of Australia as financial advisors regarding the potential acquisition by Magellan of the minority public interest in MPAL
	TM Capital and Baron Partners are fellow members of M&A International, the leading global network of merger and acquisition advisory firms
	Magellan has acquired over 90% of MPAL via an exchange offer in which each MPAL share has been exchanged for 0.75 Magellan shares and A$0.10, valuing the entire share capital of MPAL at US$80 million
	This is believed to be the only successful unsolicited cross-border exchange offer for a mid-sized company in recent years

Client Press Release