ANS Investments seeks seat on Magellan Petroleum board of directors

By Lisa Kerner

Charlotte, N.C., Sept. 11 - Magellan Petroleum Corp. investor ANS Investments said it plans to conduct a proxy solicitation seeking stockholder support for the election of ANS chief executive officer Jonah M. Meer to the company's board at the 2008 annual meeting.

ANS is seeking to replace Timothy Largay's seat on the board that is up for election this year, according to a schedule 13D filed with the Securities and Exchange Commission.

Largay is a partner in Murtha Cullina LLP, a law firm that has served as outside counsel to Magellan Petroleum for more than five years, ANS said.

In addition, Largay is the assistant corporate secretary of Magellan Petroleum.

Another partner of Murtha Cullina, Edward B. Whittemore, is the corporate secretary of Magellan Petroleum.

ANS said it will also solicit proxies in support of shareholder proposals to require all board members to stand for election annually and to prevent board members from seeking to entrench themselves.

The investor demanded to inspect the company's stockholder records under Delaware Law and asked for a stockholder list in order to disseminate solicitation materials, the filing said.

Magellan Petroleum is a Hartford, Conn., oil and gas company.

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