Business
Madalena Announces 2019 Second Quarter Financial Results and Operational Update, Including Progress on Its Vaca Muerta Shale Drilling at Coiron Amargo Sur Este
(All dollar figures are expressed in United States Dollars) Buenos Aires, Argentina--(Newsf...
About this update from Centaurus Energy Inc.
[{"type":"text","content":"Madalena Announces 2019 Second Quarter Financial Results and Operational Update, Including Progress on Its Vaca Muerta Shale Drilling at Coiron Amargo Sur Este(All dollar figures are expressed in United States Dollars)Buenos Aires, Argentina--(Newsfile Corp. - August 19, 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 June 30, 2019. Madalena's CEO Jose Penafiel commented: \"We are pleased with progress on our CASE horizontal drilling program with our partner, Pan American Energy. We are also happy to announce that an additional well has been added to the 4 well drilling program for a total of 5 horizontal wells that will further delineate the potential of the CASE block. Preparation for and commencement of this important drilling and completions program is the main reason why our capital expenditures increased to $2.7 million in the second quarter as activity increased in CASE.\" CONFERENCE CALL As previously announced, the Company will hold an investor conference call to discuss the Company's operating and financial results on Tuesday, August 20, 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 June 30, 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 endedJun 3020192018Financial - ($000s, except per share amounts)Oil and gas revenue8,9799,802Funds flow from (used in) continuing operations(1)5772,469Per share - basic & diluted(1)0,000,00Net loss from continuing operations(2,268)(3,514)Per share - basic & diluted(1)(0,00)(0,01)Capital expenditures2,7451,983Working capital (deficiency)(1,420)(2,137)Common shares outstanding - 000s544,060 544,06...