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Madalena Announces an Independent Evaluation of its Unconventional Shale Resources with an Estimated 34.8 Billion Barrels of Oil Equivalent ("boe") of Petroleum Initially In Place
CALGARY, April 30, 2013 /CNW/ - Madalena Ventures Inc. (TSXV: MVN) (the "Company" or "Madal...
About this update from Centaurus Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, April 30, 2013 /CNW/ - Madalena Ventures Inc. (TSXV: MVN) (the\n \"Company\" or \"Madalena\") is pleased to provide information on the\n Company's unconventional shale resources on its three land blocks\n within the Neuquen basin, Argentina.\n\n\nThese resources were evaluated by Ryder Scott Petroleum Consultants Ltd.\n (\"Ryder Scott\") in a report dated effective December 31, 2012 (the\n \"Resource Report\"). All of the Company's international properties,\n which are located within the Neuquen basin, Argentina, were reviewed in\n the Resource Report although not all of the potential resources and\n formations were evaluated. All values disclosed herein are net to\n Madalena's interest.\n\n\nHighlights\n\n\nMadalena holds 135,000 net acres on the Coiron Amargo (35,027 net\n acres), Curamhuele (50,400 net acres) and Cortadera (49,600 net acres)\n blocks within the Neuquen basin, respectively;\n\n\nThe main zones of interest for the independent resource evaluation\n focused on the Vaca Muerta shale, Lower Agrio shale and Basal Quintuco with the evaluated resources based on data from 19 delineation and\n discovery wells on the blocks, 3D or 2D seismic coverage and core\n analysis.\n\n\nThe following are summary results of the independent evaluation\n completed by Ryder Scott for all three blocks held by Madalena.  A\n further breakdown (by block) of the petroleum initially in place and\n potential recoverable resources are shown in a series of tables that\n follow.\n\n\nBest Case P50 total petroleum initially in place (\"PIIP\") of 34.8 billion barrels of oil equivalent (\"boe\") (51 % crude oil and natural gas\n liquids (\"NGLs\")), comprised of:\nBest Case P50 discovered PIIP (\"DPIIP\") of 257.4 million boe (95 % crude\n oil and NGLs); and\n\n\nBest Case P50 undiscovered PIIP (\"UPIIP\") of 34.6 billion boe (50 %\n crude oil and NGLs);\n\n\n\nBest case P50 contingent plus prospective recoverable resources of 2.9 billion boe (45 % crude oil and NGLs), comprised of:\nBest case P50 contingent recoverable resources of 19.4 million boe (95 %\n crude oil and NGLs); and\n\n\nBest case P50 prospective recoverable resources of 2.8 billion boe (45 %\n crude oil and NGLs).\n\n\n\nPlease see the tables (and notes thereto) and narrative that follow for\n a detailed break-down of the calculation of these amounts.\n\...