Exhibit 21
SUBSIDIARIES OF THE REGISTRANT
                 
Subsidiary   State of Incorporation   Ownership
         
Magellan Petroleum Australia Limited
    Queensland, Australia       55%  
Magellan Petroleum Australia Limited owns the following subsidiaries
directly or indirectly:
       
Magellan Petroleum (N.T.) Pty. Ltd. 
    Queensland, Australia       100%  
Paroo Petroleum Pty. Ltd.
    Queensland, Australia       100%  
Paroo Petroleum (Holdings), Inc.
    Delaware, U.S.A.        100%  
Paroo Petroleum (USA), Inc.
    Delaware, U.S.A.        100%  
Magellan Petroleum (W.A.) Pty. Ltd. 
    Queensland, Australia       100%  
Magellan Petroleum (Belize) Limited
    Belize, C.A       100%  
Magellan Petroleum (Eastern) Pty. Ltd. 
    Queensland, Australia       100%  
Magellan Petroleum (Southern) Pty. Ltd. 
    Queensland, Australia       100%  
Magellan Petroleum (NZ) Limited
    New Zealand       100%  
Magellan Petroleum (Ventures) Pty Ltd. 
    Queensland, Australia       100%  
Jarl Pty. Ltd. 
    Queensland, Australia       100%