Exhibit 99(a)

                         Magellan Petroleum Corporation

                                  News release

                            MPC TO INCREASE HOLDINGS
                            IN AUSTRALIAN SUBSIDIARY


MADISON, Conn., July 11, 2003-- Magellan Petroleum Corporation (NASDAQ: MPET)
said that it has agreed to acquire 1.2 million shares of its majority-held
subsidiary, Magellan Petroleum Australia Limited (MPAL,) in exchange for 1.3
million shares of the Company's common stock. The MPAL shares will be acquired
from Sagasco Amadeus Pty Limited, a subsidiary of Sydney based Origin Energy
Limited, and will increase the Company's holdings in MPAL from 52.4% to 55%. The
completion of the agreement is subject to the receipt of certain governmental
approvals in Australia.

This press release does not  constitute an offer of any securities for sale. The
securities  described in this press release have not been  registered  under the
Securities  Act of 1933  and may not be  offered  or sold in the  United  States
absent   registration   or  an  applicable   exemption  from  the   registration
requirements.

Statements in this press release that are not historical in nature are intended
to be - and are hereby identified as "forward-looking statements" for purposes
of the "Safe Harbor Statement" under the Private Securities Litigation Reform
Act of 1995. The Company cautions readers that forward looking statements are
subject to certain risks and uncertainties that could cause actual results to
differ materially from those indicated in the forward looking statements. Among
these risks and uncertainties are uncertainties as to the costs, length and
outcome of the Kotaneelee litigation, and any settlements related thereto,
pricing and production levels from the properties in which the Company has
interests, and the extent of the recoverable reserves at those properties. The
Company undertakes no obligation to update or revise forward looking statements,
whether as a result of new information, future events, or otherwise.

                   Contact: James R. Joyce, at (203) 245-7664