Business
Madalena Announces Financial and Operating Results for the Three and Six Months Ended June 30, 2012
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED S...
About this update from Centaurus Energy Inc.
[{"type":"text","content":"\n\n\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR\n DISSEMINATION IN THE UNITED STATES/ \n\n\nTSXV Trading Symbol: MVN\n\n\nCALGARY, Aug. 23, 2012 /CNW/ - Madalena Ventures Inc. (\"Madalena\" or the\n \"Company\") (TSXV: MVN) today announced that it has filed its unaudited\n financial statements and related management's discussion and analysis\n (\"MD&A\") for the three and six month period ended June 30, 2012 on www.sedar.com and on its website www.madalena-ventures.com. All amounts are in Canadian dollars ($) unless otherwise stated.\n\n\nHIGHLIGHTS\n\n\nHighlights in the six months ended June 30, 2012 include:\n\n\nExtension of the Company's large acreage position in the Neuquen Basin\n and conversion of the northern 108 km2 of the 404 km2 Coiron Amargo Block to a 25 year exploitation concession;\n\nSuccessful drilling and completion of 2 development wells and 2\n exploration wells on the Coiron Amargo Block;\n\nPositive well test results at the end of Q2 / early Q3 from CAN 5 and\n CAN 7 development wells, respectively;\n\nCommenced testing the Vaca Muerta formation at the CorS X-1 deep gas\n exploration well on the Cortadera Block;\n\nContinued preparations for regions first fracture stimulation of the\n Lower Agrio shale; and\n\nStrengthened working capital position with completion of $67.5 million\n equity offering.\n\n\nOVERVIEW\n\n\nMadalena is an independent, Canadian-based, international upstream oil\n and gas company whose main business activities include exploration,\n development and production of crude oil, natural gas liquids and\n natural gas. The Company currently has production and exploration\n operations in Argentina.\n\n\nCoiron Amargo Block (35% working interest)\n\n\nIn March 2012 an application by the Coiron Amargo joint venture to\n convert the northern 108 km2 of the 404 km2 block to a 25 year exploitation concession (Coiron Amargo Norte) was\n approved by the Province of Neuquén. In addition, the exploration\n period for the remainder of the block (Coiron Amargo Sur) was extended\n to November 8, 2013.\n\n\nOn Coiron Amargo Norte, in May 2012 the Company completed drilling the\n CAN 5 development well located within the CAN X-1 Sierras Blancas\n structure discovered in the second half of 2010.  In June 2012, initial\n flow testing results of the Sierras Blancas for...