Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 7 Key Information 7 Company Overview 7 Magellan Petroleum Corporation, Valuation and Financial Data, 2011-2015 8 Magellan Petroleum Corporation, Share Price Performance, 2011-2015 8 Share Price Performance, 2011-2015 8 Key Valuation Metrics, 2011-2015 9 Magellan Petroleum Corporation, Production and Reserves Trends 10 Total Oil and Gas, Reserves and Production 10 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 10 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 12 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 14 Crude Oil/Liquids Production and Reserve 15 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 15 Crude Oil Production and Reserves By Country/Region, 2011-2015 16 Crude Oil/Liquids Reserve Changes, 2011-2015 18 Natural Gas Production and Reserve 19 Natural Gas Production and Reserve Trend, 2011-2015 19 Natural Gas Production and Reserves, By Country/Region, 2011-2015 20 Total Crude Oil and Natural Gas Reserves Life Index 22 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 22 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 23 Magellan Petroleum Corporation, E&P Costs Trends 25 Allocation of the Upstream Capital Expenditure 25 Upstream Capital Expenditure, 2011-2015 25 Acquisition Costs By Country/Region, 2011-2015 26 Exploration and Development Costs, By Country/Region, 2011-2015 28 Oil and Gas Cost Per boe, US$/boe 30 Oil and Gas Cost Per boe, US$/boe, 2011-2015 30 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 32 Magellan Petroleum Corporation, Reserve Replacement Ratio 34 Oil and Gas Production Replacement Ratio 34 Oil and Gas Production Replacement Ratio, 2011-2015 34 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 36 Magellan Petroleum Corporation, Results of Oil & Gas Operations Trend 40 Oil and Gas Revenue and Expenses 40 Oil and Gas Revenue and Expenses, 2011-2015 40 Oil and Gas Revenue and Expenses, Per boe 41 Oil and Gas Revenue and Expenses, By boe, 2011-2015 41 Oil and Gas Performance Metrics 42 Magellan Petroleum Corporation, Land Holdings and Well Data 43 Developed and Undeveloped Acreage 43 Gross and Net Developed and Undeveloped Acreage, 2011-2015 43 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 44 Well Statistics 47 Producible Oil and Gas Well, 2011-2015 47 Producible Oil and Gas Well, By Country/Region, 2011-2015 48 Exploration and Development Wells Drilled, 2011-2015 53 Recent Developments 54 Magellan Petroleum Corporation - Recent Developments 54 Mar 21, 2016: Solo Oil: Initial Flow Test Programme Completed For Horse Hill-1 Oil Discovery, Weald Basin, UK 54 Mar 08, 2016: Magellan Petroleum Regains Compliance With NASDAQ Listing Requirements 55 Mar 02, 2016: Magellan Provides Update On Horse Hill Flow Test 56 Feb 23, 2016: Magellan Announces Preliminary Results Of Horse Hill Flow Test 56 Feb 16, 2016: Solo Oil Announces Horse Hill-1 Oil Discovery, Weald Basin, UK Significant Oil Flows To Surface From Lower Kimmeridge Limestone 57 Feb 08, 2016: Solo Oil begins flow test operations at Horse Hill-1 oil discovery in UK 57 Jan 04, 2016: Solo Oil secures final flow test consent for Horse Hill-1 discovery in Weald Basin, UK 58 Jul 31, 2015: Magellan Petroleum Regains Compliance With NASDAQ Listing Requirements 59 Jul 06, 2015: Magellan Announces Formation Of Special Committee To Review Strategic Alternatives 59 Jul 02, 2015: Magellan Announces Conversion of Revolving Loan Into Term Loan 60 Appendix 61 Methodology 61 Coverage 61 Secondary Research 61 Primary Research 61 Data Information Sources 62 Company Source 62 SEC/Other Regulatory Filings 62 Other Sources 62 Expert Panel Validation 62 Data Definition 62 Oil and Gas Reserves 62 Units of Measure 63 About GlobalData 63 Disclosure 63 Disclaimer 63

List of Tables Table 1: Magellan Petroleum Corporation, Key Facts 7 Table 2: Magellan Petroleum Corporation, Share Price Performance, 2011-2015 8 Table 3: Magellan Petroleum Corporation, Key Valuation Metrics, 2011-2015 9 Table 4: Magellan Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 11 Table 5: Magellan Petroleum Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 13 Table 6: Magellan Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 14 Table 7: Magellan Petroleum Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 15 Table 8: Magellan Petroleum Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 17 Table 9: Magellan Petroleum Corporation, Crude Oil Reserve Changes, mmbbl, 2011-2015 18 Table 10: Magellan Petroleum Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 19 Table 11: Magellan Petroleum Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 21 Table 12: Magellan Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 22 Table 13: Magellan Petroleum Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 24 Table 14: Magellan Petroleum Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 25 Table 15: Magellan Petroleum Corporation, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 27 Table 16: Magellan Petroleum Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 29 Table 17: Magellan Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 31 Table 18: Magellan Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 33 Table 19: Magellan Petroleum Corporation, Oil and Gas Production Replacement Ratio, %, 2011-2015 34 Table 20: Magellan Petroleum Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 39 Table 21: Magellan Petroleum Corporation, Revenue and Expenses, US$ mil, 2011-2015 40 Table 22: Magellan Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 41 Table 23: Magellan Petroleum Corporation, Oil and Gas Performance Metrics, 2011-2015 42 Table 24: Magellan Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 43 Table 25: Magellan Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 46 Table 26: Magellan Petroleum Corporation, Producible Oil and Gas Wells, 2011-2015 47 Table 27: Magellan Petroleum Corporation, Producible Oil and Gas Wells, By Country/Region, 2011-2015 51 Table 28: Magellan Petroleum Corporation, Exploratory and Developed Wells, 2011-2015 53 List of Figures Figure 1: Magellan Petroleum Corporation, Share Price Performance, USD/Share, 2011-2015 8 Figure 2: Magellan Petroleum Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 9 Figure 3: Magellan Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 10 Figure 4: Magellan Petroleum Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 12 Figure 5: Magellan Petroleum Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 12 Figure 6: Magellan Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 14 Figure 7: Magellan Petroleum Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 15 Figure 8: Magellan Petroleum Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 16 Figure 9: Magellan Petroleum Corporation, Oil Production, By Country/Region, mmbbl, 2011-2015 16 Figure 10: Magellan Petroleum Corporation, Crude Oil Reserve Changes, mmbbl, 2015 18 Figure 11: Magellan Petroleum Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 19 Figure 12: Magellan Petroleum Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 20 Figure 13: Magellan Petroleum Corporation, Gas Production, By Country/Region, bcf, 2011-2015 20 Figure 14: Magellan Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 22 Figure 15: Magellan Petroleum Corporation, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 23 Figure 16: Magellan Petroleum Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 23 Figure 17: Magellan Petroleum Corporation, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 24 Figure 18: Magellan Petroleum Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 25 Figure 19: Magellan Petroleum Corporation, Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 26 Figure 20: Magellan Petroleum Corporation, Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 26 Figure 21: Magellan Petroleum Corporation, Development Costs, By Country/Region, US$ mil, 2011-2015 28 Figure 22: Magellan Petroleum Corporation, Exploration Costs, By Country/Region, US$ mil, 2011-2015 28 Figure 23: Magellan Petroleum Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 30 Figure 24: Magellan Petroleum Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 32 Figure 25: Magellan Petroleum Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 32 Figure 26: Magellan Petroleum Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 33 Figure 27: Magellan Petroleum Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 34 Figure 28: Magellan Petroleum Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 36 Figure 29: Magellan Petroleum Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 36 Figure 30: Magellan Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 37 Figure 31: Magellan Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 37 Figure 32: Magellan Petroleum Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 38 Figure 33: Magellan Petroleum Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 38 Figure 34: Magellan Petroleum Corporation, Revenue and Expenses, US$ mil, 2011-2015 40 Figure 35: Magellan Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 41 Figure 36: Magellan Petroleum Corporation, Oil and Gas Performance Metrics, 2011-2015 42 Figure 37: Magellan Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 43 Figure 38: Magellan Petroleum Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 44 Figure 39: Magellan Petroleum Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 44 Figure 40: Magellan Petroleum Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 45 Figure 41: Magellan Petroleum Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 45 Figure 42: Magellan Petroleum Corporation, Producible Oil and Gas Wells, 2011-2015 47 Figure 43: Magellan Petroleum Corporation, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 48 Figure 44: Magellan Petroleum Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 48 Figure 45: Magellan Petroleum Corporation, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 49 Figure 46: Magellan Petroleum Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 49 Figure 47: Magellan Petroleum Corporation, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 50 Figure 48: Magellan Petroleum Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 50 Figure 49: Magellan Petroleum Corporation, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 51 Figure 50: Magellan Petroleum Corporation, Exploratory and Developed Wells, 2011-2015 53