Condensed Consolidated Statement of Operations (USD $)	3 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
REVENUES:
Oil sales	$ 3,295,661	$ 2,170,646
Gas sales	477,837	409,260
Other production related revenues	(38,150)	1,119,275
Total revenues	3,735,348	3,699,181
COSTS AND EXPENSES:
Production costs	3,017,875	1,839,163
Exploration and dry hole costs	987,488	413,670
Salaries and employee benefits	1,149,105	941,676
Depletion, depreciation and amortization	316,860	989,338
Auditing, accounting and legal services	691,556	238,451
Accretion expense	157,614	149,692
Shareholder communications	98,658	153,155
(Gain) on sale of assets	(4,107,720)	(20,142)
Impairment loss	0	0
Other administrative expenses	1,134,226	1,749,532
Foreign transaction (gain) loss	(562,280)	1,203,532
Total costs and expenses	2,883,382	7,658,067
Operating (loss) income	851,966	(3,958,886)
Warrant expense	0	0
Investment income	270,958	246,316
(Loss) income before income taxes	1,122,924	(3,712,570)
Income tax (provision) benefit	(198,326)	301,336
Net (Loss) income before non-controlling interest	924,598	(3,411,234)
Less non-controlling interest (Income) loss	15,401	35,113
Net (Loss) income attributable to Magellan Petroleum	939,999	(3,376,121)
Average number of shares outstanding Basic	52,915,811	52,335,977
Average number of shares outstanding Dilutive	54,720,728	52,335,977
Net (Loss) income per basic and dilutive common shares attributable to Magellan Petroleum Corporation common shareholders	$ 0.0177640478759742	$ (0.06)