San Diego, CA -- (SBWIRE) -- 09/04/2012 -- An investigation on behalf of investors Magellan Petroleum Corporation (NASDAQ:MPET) shares was announced concerning whether a takeover of Magellan Petroleum Corporation would be unfair to investors in NASDAQ:MPET shares.

Investors who purchased shares of Magellan Petroleum Corporation (NASDAQ:MPET) prior to August 28, 2012, and currently hold any of those NASDAQ:MPET shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

On August 28, 2012, Stratex Oil & Gas Holdings, Inc. (OTCQB: STTX) announced that it made an offer to acquire Magellan Petroleum Corporation (NASDAQ: MPET) for $2.30 per share in cash and stock.

Following the takeover proposal shares of Magellan Petroleum Corporation (NASDAQ:MPET) jumped from $0.98 per share on Monday to $1.589 per share on Tuesday, August 28, 2012.

However, shares of Magellan Petroleum Corporation (NASDAQ:MPET) reached during 2011 as high as $3.04 per share.

Therefore the investigation by a law firm for NASDAQ:MPET investors concerns whether a potential takeover would be unfair to by a law firm stockholders. Specifically, the investigation focuses on whether the Magellan Petroleum Board of Directors will undertake an adequate sales process, adequately shop the company before entering into the transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with a potential sale.

Those who are current investors in shares of Magellan Petroleum Corporation (NASDAQ:MPET) and purchased their NASDAQ:MPET shares prior to the announcement, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com