Business
Madalena announces grant of options
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UN...
About this update from Centaurus Energy Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nTSXV Trading Symbol: MVN\n\n\nCALGARY, Aug. 27, 2013 /CNW/ - Madalena Energy Inc. (\"Madalena\" or the\n \"Corporation\") announces the grant of options (\"Options\") to certain\n officers, employees, consultants and directors of the Corporation and\n its subsidiaries as part of its annual compensation procedures.  Of the\n 6,000,000 Options granted, a total of 5,320,000 Options were granted to\n directors and executive officers of the Corporation or its\n subsidiaries.  Each Option has an exercise price of $0.35 per share and\n is exercisable for a period of five years from the date of grant.\n\n\nThe Corporation's rolling stock option plan was approved by the\n shareholders at the Annual and Special Meeting of shareholders held on\n July 30, 2013.  The Corporation's stock option plan currently reserves\n up to 33,852,265 Common Shares for issuance pursuant to Options, which\n is equal to 10% of the number of issued and outstanding Common Shares. \n Options to purchase 21,071,665 Common Shares are now outstanding, which\n is equal to approximately 6.2% of the number of issued and outstanding\n Common Shares.\n\n\nAbout Madalena - Domestic and International Assets\n\n\nMadalena is an independent, Canadian-based, international and domestic\n upstream oil and gas company whose main business activities include\n exploration, development and production of crude oil, natural gas\n liquids and natural gas.\n\n\nInternationally, Madalena holds three large blocks within the prolific\n Neuquén basin in Argentina where it is focused on the delineation of\n vast shale and unconventional resources in the Vaca Muerta, Lower Agrio\n and Los Molles shales, in addition to tight sand plays in the\n Mulichinco and Quintuco. The Company is also developing a conventional\n oil play in the Sierras Blancas formation. Madalena holds 135,000 net\n acres on the Coiron Amargo, Curamhuele and Cortadera blocks.\n\n\nDomestically, Madalena's core area of operations is located in the\n Greater Paddle River area of west-central Alberta where the Corporation\n holds approximately 200 gross (>150 net) sections of land (78% average\n W.I.) encompassing light oil and liquids-rich gas resource plays.\n Madalena's domestic foc...