CALGARY, Alberta, August 2, 2013 /PRNewswire/ --
TSXV Trading Symbol: MVN
Madalena Energy Inc. (formerly Madalena Ventures Inc.) (TSXV: MVN) ("Madalena" or the "Company") announces that it has changed its name to "Madalena Energy Inc." The name change was approved by the shareholders of the Company at the annual and special meeting of the Company held on July 30, 2013 and by the TSX Venture Exchange ("TSXV") on July 31, 2013. Effective at the opening of markets on August 2, 2013, the common shares of Madalena will commence trading on the TSXV under its new name. Madalena will continue to trade under the symbol "MVN".
About Madalena - International and Domestic Assets
Madalena is an independent, Canadian-based, international and domestic upstream oil and gas company whose main business activities include exploration, development and production of crude oil, natural gas liquids and natural gas.
Internationally, Madalena holds three large blocks within the prolific Neuquén basin in Argentina where it is focused on the delineation of vast shale and unconventional resources in the Vaca Muerta, Lower Agrio and Los Mollesshales, in addition to tight sand plays in the Mulichinco and Quintuco. The Company is also developing a conventional oil play in the Sierras Blancas formation. Madalena holds 135,000 net acres on the Coiron Amargo, Curamhuele and Cortadera blocks.
Domestically, Madalena's core area of operations is located in the Greater Paddle River area of west-central Alberta where the Company holds approximately 200 gross (>150 net) sections of land (78% average W.I.) encompassing light oil and liquids-rich gas resource plays. Madalena's domestic focus is to exploit its large inventory of horizontal development locations on its Ostracod oil, Notikewin/Wilrich liquids-rich gas, and emerging Nordegg oil & liquids-rich gas resource plays. Madalena also holds more than 100 net sections (100% W.I.) which are prospective for the Duvernay shale.
Madalena trades on the TSX Venture Exchange under the symbol MVN. Basic corporate information, recent news releases and regularly updated corporate presentations are available on the Company's website at http://www.madalenaenergy.com.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Kevin Shaw, P.Eng, MBA
President and Chief Executive Officer
Madalena Energy Inc.
Phone: +1-(403)262-1901 (Ext. 230)
Thomas Love, CA
VP, Finance and Chief Financial Officer
Madalena Energy Inc.
Phone: +1-(403)262-1901 (Ext. 227)
SOURCE Madalena Ventures Inc.