Summary of MAGELLAN PETROLEUM CORP /DE/

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Based on the final voting results at the Annual Meeting held on January 16, 2013, as discussed under Item 5.07 below, the Company's shareholders have approved the Magellan Petroleum Corporation 2012 Omnibus Incentive Compensation Plan (the "Plan").

Item 5.07 Submission of Matters to a Vote of Security Holders.
On January 16, 2013, the Company held its Annual Meeting in Denver, Colorado. At the Annual Meeting, the proposals set forth below were submitted to a vote of the Company's shareholders. Each of the director nominees named below was elected to serve a three-year term expiring at the 2015 Annual Meeting of Shareholders, and each other proposal set forth below was approved by the requisite vote of the Company's shareholders. The final voting results are as follows:

                                                                                 Broker
                                                     For         Withheld      Non-Votes
Election of two directors to each serve a
three-year term expiring at the 2015 Annual
Meeting of Shareholders
Brendan S. MacMillan                             27,350,699     1,368,369     19,204,291
Robert J. Mollah                                 19,789,989     8,929,106     19,204,291


                                                                                    Broker
                                          For          Against       Abstain      Non-Votes
Non-binding advisory resolution to
approve the compensation of the
Company's named executive officers    19,975,097     8,349,202       394,796     19,204,291


                                                                                    Broker
                                          For          Against       Abstain      Non-Votes
Approval of the 2012 Omnibus
Incentive Compensation Plan           19,401,839     8,848,624       468,632     19,204,291


                                                                                   Broker
                                          For          Against       Abstain      Non-Votes
Ratification of the appointment of
Ehrhardt Keefe Steiner & Hottman PC
as the Company's independent
registered public accounting firm
for the fiscal year ending June 30,
2013                                  46,811,671       726,631       385,084             -