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Madalena Announces 2019 First Quarter Financial Results and Operational Update
Buenos Aires, Argentina--(Newsfile Corp. - May 15, 2019) - Madalena Energy Inc. (TSXV: MVN) (O...
About this update from Centaurus Energy Inc.
[{"type":"text","content":"\nMadalena Announces 2019 First Quarter Financial Results and Operational Update(All dollar figures are expressed in United States Dollars)Buenos Aires, Argentina--(Newsfile Corp. - May 15, 2019) - Madalena Energy Inc. (TSXV: MVN) (OTCQX: MDLNF) (\"Madalena\" or the \"Company\") is pleased to announce its financial and operating results for the three months ended March 31, 2019. Madalena's CEO Jose Penafiel commented: \"Our operating netback declined in Q1/19 due to a combination of lower market prices for oil, and higher-than normal operating costs caused primarily by work-overs carried out during the quarter at our conventional Noroeste Basin assets. We continue to expect the results of those workovers to drive improved results in Q2/19 and beyond. And we are very excited to report, as previously announced, that operations have begun on a multi-well drilling program on the Coiron Amargo Sur Este block, targeting the prolific Vaca Muerta shale with drilling and completion methods that are hoped to further optimize economics relative to previously drilled wells on the block. We are also pleased to announce the approval of a 2 year extension on the Curamhuele block that is in the condensate window of the Vaca Muerta play.\" CONFERENCE CALLAs previously announced, the Company will hold an investor conference call to discuss the Company's operating and financial results on Thursday, May 16, 2019 at 8:00 a.m. MDT (10:00 a.m. EDT). Analysts and investors are invited to participate using the following dial-in numbers:Local Dial-in Number: (+1) 587 880 2171Toll Free Dial-in Number North America: (+1) 888 390 0546Toll Free Dial-in Number United Kingdom: 0800 652 2435Toll Free Dial-in Number Argentina: 0800 444 8221SUMMARY FINANCIAL AND OPERATIONAL RESULTS Selected information is outlined below and should be read in conjunction with Madalena's unaudited condensed interim consolidated financial statements for three months ended March 31, 2019 and the associated management's discussion and analysis (\"MD&A\"), which are available for review under the Company's profile at www.sedar.com and on the Company's website at www.madalenaenergy.com.    Three months endedMar 31 20192018Financial - ($000s, except per share amounts) Oil and gas revenue7,4989,612Funds flow from (used in) continuing operations(1)(1,031)1,072Per share - basi...