Magellan Petroleum Corporation (Nasdaq: MPET) (ASX: MGN) (the "Company") reported total proved oil and natural gas reserves as of June 30, 2010 were 9.7 million barrels of oil equivalent ("MMBOE"), consisting of 9.48 million barrels ("MMbbls") of crude oil and 1.53 billion cubic feet ("Bcf") (.26 MMBOE) of natural gas. Taking into account the sale of the Cooper Basin assets and the acquisition of the Poplar Fields, the Company's reserves increased from the year-end 2009 reported estimates of 1.6 MMBOE to 9.7MMBOE at year end 2010.
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