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MGLN, Magellan Health Services Inc.

** The Louisiana Department of Health and Hospitals has recommended that MGLN be awarded a contract to manage behavioral health care for Medicaid recipients and other beneficiaries through the Louisiana Behavioral Health Partnership.

Magellan Petroleum Corporation (NASDAQ:MPET) reported a consolidated net loss of $2.1 million ($.04 per share) on total revenue of $4.5 million for its fiscal second quarter ended December 31, 2010, as compared to a net loss of $3.4 million ($.06 per share) on gross revenues of $3.7 million in the immediately prior quarter.

Megellan Petroleum announced that it has appointed William H. Hastings as its new President and CEO. Daniel J. Samela has resigned as Acting President and CEO and will assum the roles of CFO, Chief Accounting Officer and Treasurer. The company also announced changes to its Board of Directors.

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