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Magellan and Tellurian finalise merger

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LNG Industry,

Tellurian Inc. (Tellurian), which was formerly known as Magellan Petroleum Corp., has announced that it has closed its merger with Tellurian Investments Inc.

Tellurian’s common stock will continue to trade on the NASDAQ under the new ticket symbol ‘TELL’. As part of the finalisation of the merger, Antoine Lafargue, the former CEO of Magellan, has been appointed as CFO.

The President and CEO of Tellurian, Meg Gentle, said: “We look forward to creating value for our shareholders by delivering clean, low-cost, and reliable LNG to the global market. We are developing large scale energy infrastructure on the US Gulf Coast, including the 26 million tpy Driftwood LNG facility in Calcasieu Parish, Louisiana, which is scheduled to begin construction in 2018. We expect our next major milestone to be filing our formal permit application with the Federal Energy Regulatory Commission for Driftwood LNG. We appreciate the local, state and federal support for this project and anticipate an efficient regulatory review of the application."

Lafargue added: “With the closing of this transaction, the efforts of the board of directors of Magellan Petroleum Corp. conclude and a new chapter in the long history of the company can commence. From William F. Buckley Sr. to the new leadership team at Tellurian, unique vision and exceptional execution will continue to drive value for shareholders."

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