| Business Summary | | Magellan
Petroleum
Corporation
is
engaged,
directly
and
through
its
majority-owned
subsidiary,
in
the
sale
of
oil
and
gas
and
the
exploration
for
and
development
of
oil
and
gas
reserves
in
Canada
and
Australia.
At
June
30,
2000,
the
Company's
principal
asset
was
a
51.2%
equity
interest
in
its
subsidiary,
Magellan
Petroleum
Australia
Limited
(MPAL).
MPAL
has
an
interest
in
the
Palm
Valley
gas
field
and
in
the
Mereenie
oil
and
gas
field.
The
Company
has
a
direct
2.67%
carried
interest
in
the
Kotaneelee
gas
field
in
Canada. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Magellan
Petroleum
Corp.
is
engaged,
directly
and
through
its
majority-owned
subsidiary,
in
the
sale
of
oil
and
gas
and
the
exploration
for
and
development
of
oil
and
gas
reserves.
For
the
nine
months
ended
3/31/01,
total
revenues
fell
10%
to
$11.2
million.
Net
income
fell
18%
to
$791
thousand.
Revenues
reflect
a
decrease
in
gas
sales
and
other
production
related
revenues.
Net
income
also
reflects
an
increase
in
exploration
and
dry
hole
costs. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| James Joyce, 59 Pres,
CFO, Director | $86K | Timothy Largay, 57 Sec.,
Director | -- | Hedley Howard, 58 Gen.
Mang. - MPAL, Director | 238K | Dollar amounts are as of 30-June-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|