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 %