Business
Madalena Ventures Inc. Announces Financial And Operating Results For The Three And Six Month Periods Ended June 30, 2011
/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 DISSEMINATION IN THE UNITED STATES/ \n\n\nTSXV Trading Symbol: MVN\n\n\nCALGARY, Aug. 24, 2011 /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 (\"MDA\") for the three and six month periods ended June 30, 2011 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, 2011 include:\n\n\nContinued success drilling and completing the CAS X-1 and CAN X-4 wells\n on the Coiron Amargo Block;\n\n\nTesting of the Sierras Blancas formation in the CAS X-1 and CAN X-4\n wells resulting in initial test production rates of 200 and 650 barrels\n of oil per day (bopd), respectively;\n\n\nInitial flow and pressure tests of the Vaca Muerta formation at CAS X-1\n resulting in the well flowing approximately 40 bopd of 32 degree API\n crude oil without any fracture stimulation treatment;\n\n\nDrilling the Yapai X-1001 exploration well on the Curamhuele Block with\n 23 feet of potential gross hydrocarbon column in the shallow Lower\n Troncoso formation and 7 stacked Avile formation intervals ranging in\n thickness from 50 to 260 feet with completion work currently underway;\n and\n\n\nDrilling with Apache of the first deep gas exploration well on the\n Cortadera Block targeting multiple zones including the thick\n Mulichinco, Quintuco and Vaca Muerta formations. The well has now\n reached TD with electric log results expected within 7 days.\n\n\nOVERVIEW\n\n\nCoiron Amargo Block (35% working interest)\n\n\nSince acquiring the block, the Company has had a 100% drilling success\n rate in the conventional Sierras Blancas formation drilling five wells\n into separate anomalies defined on 3D seismic.  In March 2011, the\n Company drilled and cased the CAS X-1 exploration well in the southern\n portion of the block and in May 2011 drilled the CAN X-4 well\n approximately 16 km away in the northern portion of the block. Oil and\n gas shows were evident in both wells during the drilling of the Sierras\n Blancas formation and the non-conventional Vaca Muerta formation.\n\n\nIn June 2011, the CAS X-1 ...