Madalena Announces its 2012 Year End Financial Results and Reserves

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[{"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 its\n operating and financial results for the three months and year ended\n December 31, 2012 and the Company's 2012 year end reserves.\n\n\nCopies of the Company's consolidated financial statements for the year\n ended December 31, 2012, the related management's discussion and\n analysis and the Annual Information Form (the \"AIF\") of the Company for\n the year ended December 31, 2012 have been filed with Canadian\n securities regulatory authorities and will be made available under the\n Company's profile at www.sedar.com and on the Company's website at www.madalena-ventures.com.\n\n\n2012 Year End Financial and Reserve Highlights(as of December 31, 2012 - all amounts are in Canadian dollars and net\n to Madalena's interest unless otherwise stated.)\n\n\nMaintained a strong balance sheet with a positive working capital of\n approximately 30.0 million and zero debt;\n\n\nTotal Company proved plus probable (\"P+P\") reserves of 3.894 MMboe (46%\n crude oil and natural gas liquids) representing a 149% increase from\n Madalena's 2011 year end P+P reserves;\n\n\n62% of P+P reserves are categorized as proved reserves;\n\n\nA P+P reserve life index of 13.2 years and a proven reserve life index\n of 8.2 years, based on December 2012 actual production of 809 boe/d;\n\n\nReserve net present value of P+P reserves before tax (discounted at 10%)\n of $33.7 million;\n\n\nAchieved finding, development & acquisition (\"FD&A\") costs on its\n Canadian assets of $14.78/boe of P+P reserves, or $23.47/boe of proved\n reserves, both of which include the change in future development costs;\n\n\nA large inventory of horizontal locations on Madalena's western Canadian\n lands remain unbooked; and\n\n\nEstimates of the Company's unconventional shale resources across its\n three blocks in the Neuquen basin, Argentina are quantified in a\n separate resource report prepared by Ryder Scott Petroleum Consultants\n Ltd. (\"Ryder Scott\") in accordance with National Instrument 51- 101 - Standards for Disclosure for Oil and Gas Activities of the Canadian Securities Administrators (\"NI 51-101\") (see separate\n press release dated April 30, 2013).\n\n\nSummary of Financial and Operational Results \n\n\...

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