0000950123-05-014245 Sample Contracts

MAGELLAN PETROLEUM CORPORATION NONQUALIFIED STOCK OPTION
Nonqualified Stock • November 30th, 2005 • Magellan Petroleum Corp /De/ • Crude petroleum & natural gas

THIS AGREEMENT, made as of the grant date indicated in Section 3 below, and between Magellan Petroleum Corporation, a Delaware corporation (the “Company”), and the undersigned individual (the “Optionee”), pursuant to the Magellan Petroleum Corporation 1998 Stock Option Plan (the “Plan”). (Terms not defined herein shall have the same meaning as in the Plan.)

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