Exhibit 21
 
SUBSIDIARIES OF THE REGISTRANT
 
             
Subsidiary
 
State of Incorporation
  Ownership  
 
Magellan Petroleum Australia Limited
  Queensland, Australia     100 %
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 (Eastern) Pty. Ltd. 
  Queensland, Australia     100 %
Magellan Petroleum (Southern) Pty. Ltd. 
  Queensland, Australia     100 %
Magellan Petroleum (NZ) Limited
  New Zealand     100 %
United Oil & Gas Co. (N.T.) Pty. Ltd. 
  Queensland, Australia     100 %
Magellan Petroleum (Qld.) Pty. Ltd. 
  Queensland, Australia     80 %
Magellan Petroleum (Ventures) Pty. Ltd. 
  Queensland, Australia     100 %
Jarl Pty. Ltd. 
  Queensland, Australia     100 %