Madalena Announces New Oil & Gas Discovery, Continued Drilling Success in Argentina and Vaca Muerta Shale Drilling Update

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[{"type":"text","content":"\n\nTSXV Trading Symbol: MVNOTC Trading Symbol: MDLNF\n\n\n\n\nCALGARY, Nov. 4, 2014 /CNW/ - Madalena Energy Inc. (\"Madalena\" or the \"Company\") (TSXV: MVN and OTC: MDLNF) is pleased to provide the following operational update.  \n\nKEY HIGHLIGHTS: \n\nCANADA\n\n\nSuccessfully drilled and completed a new horizontal oil and gas exploration discovery (100% WI) in the Nordegg formation on Madalena's Western Canadian assets.  This new discovery well flowed continuously up 7 inch casing and ended its initial clean-up period flowing at a rate of 718 Boe/d (51% Oil).\nARGENTINA  \n\n\nMadalena drilled, completed and placed on production its third Sierras Blancas light oil horizontal (CAN-18(h)) after successfully targeting a third separate oil pool on its Coiron Amargo block (35% WI). The CAN-18(h) horizontal was initially placed on production through permanent facilities at a total of 910 Boe/d (83% oil); \nDrilling of a fourth Sierras Blancas light oil horizontal is expected to commence in late November 2014; \nThe Company has commenced drilling a Vaca Muerta shale delineation well at its CAS-x-16 location in the Neuquen basin and plans to complete and subsequently conduct testing and evaluation operations on two Vaca Muerta shale wells at both the CAS-x-16 and the previously drilled CAS-x-15 locations; and \nMadalena has secured two additional drilling rigs for its Puesto Morales and Curamhuele blocks in Argentina where it plans to drill a horizontal well on its Loma Montosa oil resource play and evaluate its Agrio shale and Mulichinco unconventional plays.\nDOMESTIC OPERATIONS UPDATE – WESTERN CANADA\n\nNordegg Horizontal Play– New Oil & Gas Exploration Discovery \n\nMadalena has made a new oil and gas discovery (100% WI) in the Nordegg formation through the drilling, casing and stimulation of an exploratory well. The well was drilled horizontally in the Nordegg formation to a total measured depth of 2,533 metres, with a horizontal lateral section of approximately 830 metres in length. The well was subsequently completed, stimulated and flowed-back on clean-up for 67 hours.\n\nDuring the 67 hour clean-up period the well flowed continuously up 7 inch casing at an average rate of 396 bbls/d of oil and 1.6 MMscf/d of natural gas for a total of 663 Boe/d (60% Oil).  During the final 24 hour...

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