Magellan Petroleum Forms Special Committee To Consider Strategic Alternatives

(RTTNews) - Magellan Petroleum Corp. (MPET) announced the formation of a special committee of independent members of the Board to consider various strategic alternatives potentially available to the company. The company said the Special Committee is authorized to identify, negotiate, and potentially implement all strategic alternatives, including, but not limited to, sales of some or all of the assets of the company, joint ventures, a recapitalization, and a sale or merger of the company.

The company noted that the formation of the Special Committee is not in response to any proposal received.