SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.

                                    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 24, 1996


                         Magellan Petroleum Corporation
             (Exact name of registrant as specified in its charter)


      Delaware                       1-5507                 06-0842255
 State or other jurisdiction      (Commission             (IRS Employer
   of incorporation                File Number)         Identification No.)


             149 Durham Road, Oak Park - Unit 31, Madison, CT 06443
               (Address of principal executive offices) (Zip Code)


        Registrant's telephone number, including area code (203) 245-8380



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




<PAGE>


                                    FORM 8-K

                         MAGELLAN PETROLEUM CORPORATION


Item 5.          Other Events

     The Annual Meeting of Stockholders  for the fiscal year ended June 30, 1996
will be held on Tuesday,  December 10 1996 at 9:00 A.M. at the  Marriott  Hotel,
Orlando Airport, 7499 Augusta National Drive, Orlando, Florida 32822.








<PAGE>





                                   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 thereunto duly authorized.

                                   MAGELLAN PETROLEUM CORPORATION
                                         (Registrant)



                                   By /s/ James R. Joyce
                                   Name:  James R. Joyce
                                   Title: President


Date:  September 24, 1996




<PAGE>
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{"company-data": {"conformed-name": "MAGELLAN PETROLEUM CORP /DE/", "cik": "0000061398", "assigned-sic": "1311", "irs-number": "060842255", "state-of-incorporation": "DE", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-05507", "film-number": "96633561"}, "business-address": {"street1": "149 DURHAM RD", "street2": "OAKPARK UNIT 31", "city": "MADISON", "state": "CT", "zip": "06443", "phone": "2032458380"}, "mail-address": {"street1": "149 DURHAM RD", "street2": "OAKPARK UNIT 31", "city": "MADISON", "state": "CT", "zip": "06443"}, "former-company": {"former-conformed-name": "MAGELLAN PETROLEUM CORP PANAMA", "date-changed": "19671130"}}
SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.

                                    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 24, 1996

                         Magellan Petroleum Corporation
             (Exact name of registrant as specified in its charter)

      Delaware                       1-5507                 06-0842255
 State or other jurisdiction      (Commission             (IRS Employer
   of incorporation                File Number)         Identification No.)

             149 Durham Road, Oak Park - Unit 31, Madison, CT 06443
               (Address of principal executive offices) (Zip Code)

        Registrant's telephone number, including area code (203) 245-8380

              (Former name or former address, if changed since last report.)
FORM 8-K

                         MAGELLAN PETROLEUM CORPORATION

Item 5.          Other Events

     The Annual Meeting of Stockholders  for the fiscal year ended June 30, 1996
will be held on Tuesday,  December 10 1996 at 9:00 A.M. at the  Marriott  Hotel,
Orlando Airport, 7499 Augusta National Drive, Orlando, Florida 32822.
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 thereunto duly authorized.

                                   MAGELLAN PETROLEUM CORPORATION
                                         (Registrant)

                                   By /s/ James R. Joyce
                                   Name:  James R. Joyce
                                   Title: President

Date:  September 24, 1996