Madalena Announces Horizontal Sierras Blancas Test Results, CAN.xr-2(h) Production Update and Drilling Program Update in Neuquén Basin, Argentina

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[{"type":"text","content":"\n\n\nTSXV Trading Symbol: MVN\n\n\nCALGARY, April 28, 2014 /CNW/ - Madalena Energy Inc. (TSX-V: MVN and OTC: MDLNF) (the \"Company\" or \"Madalena\") is pleased to announce the\n results of a multi-rate production test for its CAN-15(h) horizontal\n well, which is the Company's second horizontal well drilled on its\n international assets in the Neuquén Basin in Argentina as well as a\n production update and drilling program update on its assets in the\n Neuquén Basin, Argentina:\n\n\nInternational Update: Neuquén Basin, Argentina -Coiron Amargo Block \n\n\nSierras Blancas Test Results at CAN-15(h): Second Horizontal Well of a\n Multi-well Program in 2014\n\n\nThe CAN-15(h) well was recently drilled horizontally in the Sierras\n Blancas light oil reservoir in the Coiron Amargo block to a total\n measured depth of 3,750 metres with a horizontal lateral section of\n approximately 692 metres in length.  This well is the second horizontal\n well drilled into the Sierras Blancas which is a conventional light oil\n reservoir sourced from the Vaca Muerta shale across the Coiron Amargo\n block.  The well was subsequently cased and completed with a 3.5\"\n slotted liner and a multi-rate production test was carried out through\n temporary production facilities. Throughout the multi-rate production\n test, the CAN-15(h) well flowed without artificial lift equipment and\n was tested for approximately 75 hours at various choke settings ranging\n from 6 mm to 12 mm in size with the following flow rates observed\n during the test:\n\n\nWith the production test only being carried out on a portion of the\n horizontal lateral section as planned, the highest rates were achieved\n on a 12 mm choke setting, when the CAN-15(h) well was flowed at a rate\n of 1,393 bbls/d of oil with 3,301 mcf/d of associated natural gas for a\n total of 1,943 Boe/d (72% oil) over a 5 hour period and at an average flowing pressure of\n approximately 1,263 psi.\n\n\nOn an 8mm choke setting, the CAN-15(h) well was flowed at a rate of 745\n bbls/d of oil with 1,990 mcf/d of associated natural gas for a total of\n 1,077 Boe/d (69% oil) over a 29 hour period and at an average flowing pressure of\n approximately 1,629 psi.\n\n\nDuring the test period of 75 hours, the total gross produced cumulative\n volumes were approximately 2,553 barrels of oil an...

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