Magellan Petroleum Corporation (NASDAQ: MPET)

Magellan Petroleum Corporation (NASDAQ: MPET)

After somewhat over a year of investigating vital choices, Magellan Petroleum Corporation (NASDAQ: MPET) has reported arrangements to converge with a secretly held LNG organization called Tellurian Investments. The organizations are planning to finish the consolidation procedure before the end of this current year and the joined element is relied upon to go up against another name.

Magellan Petroleum Corporation, through its wholly owned subsidiary, Magellan Petroleum Australia Limited, and its 100% controlling interest in Nautilus Poplar LLC, is engaged in the sale of oil and gas and the exploration for and development of oil and gas reserves worldwide. The Company engages in oil and gas exploration and production in Australia, North America, and the United Kingdom.

Its outstanding shares are at 5,879,610, while authorized share are standing around 300,000,000.

Despite the fact that the name of the consolidated organization has not yet been chosen, the organization will be headquartered in Houston.

Terrestrial is another organization simply framed for the current year and it is centered around building up a condensed normal gas office (LNG) on the U.S. Inlet Coast. The authors of the organization are a previous CEO of Cheniere Energy called Charif Souki and a previous COO of BG Group called Martin Houston.

Terrestrial has brought about $37.11 million up in capital financing since its establishing. The administration said that the LNG venture they are chipping away at would see them raise capital of amongst $20 and $30 billion over the coming five years.

Prior to the consent to converge with Magellan Petroleum Corporation (NASDAQ: MPET) came, the originators of Tellurian had implied at IPO arranges. Yet, they won’t need to travel that way as the organization is set to consequently get to be open after mix with Magellan.