UNITED STATES
                       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 11, 1998


                         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) 245-7664



         (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, 1998 will be held on December 2, 1998 at 1:00 P.M. at the Hyatt Regency
Orlando International Airport, 9300 Airport Boulevard, Orlando, Florida 32827.



<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 11, 1998
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UNITED STATES
                       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 11, 1998

                         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) 245-7664

         (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, 1998 will be held on December 2, 1998 at 1:00 P.M. at the Hyatt Regency
Orlando International Airport, 9300 Airport Boulevard, Orlando, Florida 32827.
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 11, 1998