Item 1.01 Entry into a Material Definitive Agreement.

On October 26, 2012, Magellan Petroleum Australia Limited ("MPAL"), a wholly owned subsidiary of Magellan Petroleum Corporation (the "Company") entered into a seismic data acquisition services agreement (the "Agreement") with Seabird Exploration FZ-LLC ("Seabird Exploration") for the seismic recording vessel Voyager Explorer to undertake a 75 square mile 3-D and an 84 square mile 2-D seismic survey within MPAL's NT/P82 Exploration Permit ("NT/P82"), offshore Australia. The seismic survey is expected to commence during the second week of December 2012 and to take approximately two weeks to complete. The Agreement provides that Seabird Exploration shall provide the above described seismic survey services within the NT/P82 area in exchange for payment by MPAL of approximately $4.5 million.
On November 1, 2012, the Company issued a press release announcing the Agreement. A copy of that press release is filed as Exhibit 99.1 to this report.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibit is filed as part of this report:
Exhibit
No. Description

99.1 Press Release by Magellan Petroleum Corporation dated November 1, 2012.

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