Madalena announces test results for horizontal well in Neuquén basin

<div class="separator" style="clear: both; text-align: center;"><a href="http://ceo.ca/wp-content/uploads/2013/11/mvn_corp_pres_Nov2013.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="193" src="http://ceo.ca/wp-content/uploads/2013/11/mvn_corp_pres_Nov2013.jpg" width="320" /></a></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"><span style="line-height: 1.6em;">Independent Canadian oil and gas company </span>Madalena Energy<span style="line-height: 1.6em;"> (</span>TSX-V<span style="line-height: 1.6em;">:</span>MVN<span style="line-height: 1.6em;">) has announced the results of a multi-rate production test of the CAN.xr-2h horizontal lateral re-entry well, at the </span>Coiron Amargo<span style="line-height: 1.6em;"> block in Argentina's </span>Neuquén<span style="line-height: 1.6em;"> basin.</span></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;">The well represents the first horizontal well drilled into one of the six Sierras Blancas conventional light oil pools discovered to date on the Coiron Amargo block.</div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;">During the test period of 142 hours, the total produced cumulative volumes were approximately 2,736b of oil (38° API) and approximately 4.15Mf3 (116,099m3) of natural gas, for a total of approximately 3,428boe (80% oil).</div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;">The CAN.xr-2(h) well was drilled to a total measured depth of 3,751m with a horizontal lateral section of approximately 530m in length.</div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;">A second horizontal well targeting the Sierras Blancas light oil reservoir (CAN-15(h)) is expected to be spudded in January 2014.</div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;"></div><div style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; font-size: 13px; line-height: 18px; margin-bottom: 20px;">Madalena is currently drilling a Vaca Muerta shale delineation well at the CAS.x-15 location in the southern portion of the Coiron Amargo block. Completion and testing operations on this well are expected to be carried out as part of a multi-well completion and frac program in 2014.</div>

Madalena announces test results for horizontal well in Neuquén basin

Independent Canadian oil and gas company  Madalena Energy  ( TSX-V : MVN ) has announced the results of a multi-rate production test of the ...

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