Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 22, 2014 (September 22, 2014)

Magellan Petroleum Corporation

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)



001-5507		06-0842255
(Commission File Number)		(IRS Employer Identification No.)

1775 Sherman Street, Suite 1950, Denver, CO		80203
(Address of principal executive offices)		(Zip Code)



(720) 484-2400
(Registrant's telephone number, including area code)


(Former name or former address, if changed since last report)

	Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

On September 22, 2014, Magellan Petroleum Corporation (the "Company") issued a press release providing an update on the status and preliminary results of the Company's CO₂-enhanced oil recovery pilot at Poplar. A copy of the press release is attached hereto as Exhibit 99.1.

The above information (including Exhibit 99.1) is furnished pursuant to Item 7.01 and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.


(d)	Exhibits: The following exhibits are furnished as part of this report:

Exhibit

No. Description


99.1	Company press release dated September 22, 2014.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



	MAGELLAN PETROLEUM CORPORATION


	By:	/s/ J. Thomas Wilson
		John Thomas Wilson, President and Chief Executive Officer
		(as Principal Executive Officer)


September 22, 2014

Exhibit 99.1

Poplar CO₂-EOR Update

DENVER, September 22, 2014 /Marketwired/ -- Magellan Petroleum Corporation ("Magellan" or the "Company") (NASDAQ: MPET) today provided an update on the status of the Company’s CO₂-enhanced oil recovery ("CO₂-EOR") pilot (the "Pilot") at Poplar Dome.

The Company has been continuously injecting volumes of CO₂ into the B-2 zone of the Charles Formation through the EPU 202-IW well (the “Injector Well”) since August 29, 2014. Since then, downhole pressure in the Injector Well has remained stable and above the minimum miscibility level, which is the minimum pressure necessary for CO₂ to become soluble in oil and thereby aid in the recovery of additional oil volumes.

J. Thomas Wilson, President and CEO of Magellan, commented, “Though preliminary, these results are in line with our understanding that CO₂-EOR is viable at Poplar. Our ability to inject CO₂ in the reservoir and maintain pressure above the minimum miscibility level is very encouraging and potentially indicative that (i) CO₂ is beginning to sweep oil out of the reservoir; (ii) the injected volumes of CO₂ are not escaping through fractures or ‘thief zones’; and (iii) in a full-field development scenario, the field will not have to be significantly re-pressurized to achieve minimum miscibility, potentially resulting in substantial time and cost savings relative to other CO₂-EOR projects. As we continue to inject CO₂, we expect to gain a greater understanding of the potential incremental oil volumes that CO₂-EOR could yield. I look forward to updating shareholders regularly on the progress.”

The Company plans to continue the continuous injection of CO₂ into the B-2 zone through at least the first quarter of calendar 2015, when the Company expects to be in a position to quantify incremental recoverable volumes of oil from this zone. Thereafter, the Company will begin the evaluation of CO₂-EOR on other zones in the Charles Formation, including the B-1 and A zones. During the fourth quarter of calendar 2014, the Company plans to open the four producer wells for production. The initial primary production from these wells will provide a baseline against which the Company can measure the impact on production of CO₂ injection.

The Company began initial CO₂ injection through the Injector Well in March 2014 and then paused injection during the spring and summer to optimize well completion and surface facility design. For further detail on developments related to the Pilot since March 2014, please see the description of the Pilot in the Management Discussion and Analysis section of the Company’s fiscal year 2014 annual report filed on Form 10-K with the U.S. Securities and Exchange Commission on September 18, 2014.

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

Statements in this press release, including forecasts or projections that are not historical in nature, are intended to be, and are hereby identified as, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "anticipate", "assume", "believe", "budget", "estimate", "evaluate", "expect", "forecast", "intend", "should", "initial", "plan", "project", and similar expressions are intended to identify forward-looking statements. These statements about the Company may relate to its businesses and prospects, planned capital projects and expenditures, increases or decreases in oil and gas production and reserves, estimates regarding resource potential, revenues, expenses and operating cash flows, and other matters that involve a number of uncertainties that may cause actual results to differ materially from expectations. Among these risks and uncertainties are the following: the interpretation of results of the Pilot; the effectiveness of CO₂ injection at Poplar; the economic viability of CO₂-EOR at Poplar; the uncertain nature of oil and gas prices in the United States; uncertainties inherent in projecting future rates of production from drilling activities; the uncertainty of drilling and completion conditions and results; the availability and cost of drilling, completion, and operating equipment and services; and other matters discussed in the "Risk Factors" section of The Company's most recent Annual Report on Form 10K and most recent Quarterly Report on Form 10Q. Any forward-looking information provided in this release should be considered with these factors in mind. The Company assumes no obligation to update any forward-looking statements contained in this report, whether as a result of new information, future events, or otherwise.

ABOUT MAGELLAN

Magellan Petroleum Corporation is an independent oil and gas exploration and production company focused on the development of a CO₂-enhanced oil recovery ("CO₂-EOR") program at Poplar Dome in eastern Montana and the exploration of unconventional hydrocarbon resources in the Weald Basin, onshore UK. Magellan also owns an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, which the Company currently plans to farm-out; and an 11% ownership stake in Central Petroleum Limited (ASX: CTP), a Brisbane based junior exploration and production company that operates one of the largest holdings of prospective onshore acreage in Australia. Magellan is headquartered in Denver, Colorado. The Company's mission is to enhance shareholder value by maximizing the full potential of existing assets. Magellan routinely posts important information about the Company on its website at www.magellanpetroleum.com.

For further information, please contact:

Matthew Ciardiello

Manager, Investor Relations

720.484.2404

IR@magellanpetroleum.com

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