Logo
Symbole :   
  
Temps Réel | Créer un pseudonyme  |  Mes factures | English  
(VSE-MVN) - MADALENA VENTURES INC Retour
Date Heure Manchette
10 Mai 2011 10:04 MADALENA CASES THE CAN X-4 WELL AS A POTENTIAL OIL DISCOVERY
MADALENA CASES THE CAN X-4 WELL AS A POTENTIAL OIL DISCOVERYCanada
NewsWireCALGARY, May 10

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES ORFOR DISSEMINATION
IN THE UNITED STATES/

TSXV Trading Symbol: MVN CALGARY, May 10 /CNW/ - Madalena Ventures Inc. and
its wholly owned subsidiary Madalena Austral SA ("Madalena" or the
"Corporation"), announces that the Corporation's CAN X-4 exploratory well on
the Coiron Amargo Block has been cased as a potential oil discovery. The
well is situated on a separately defined 3D drilling anomaly located
between the CAN X-1 and CAN X-2 wells. The CAN X-4 exploration well was
drilled to total depth ("TD") of 11,027 feet and has been cased to TD.† Both
oil and gas shows were evident during the drilling of the Vaca Muerta and
Sierras Blancas formations. Based on electric logs, the Vaca Muerta
formation had similar thickness and characteristics to the other four wells
the Corporation has drilled on the block. In the Sierras Blancas formation,
the well encountered a potential gross hydrocarbon column of 92 feet. The
Corporation now plans to return to the CAS X-1 well drilled in April 2011 in
the southern portion of the block to test both the Sierras Blancas and Vaca
Muerta formations encountered by the well.† Part of the test is expected to
include a fracture stimulation of the Vaca Muerta formation and combined
test results will be reported as soon as they are available.† Completion
operations at the CAS X-1 well have commenced to be immediately followed by
testing of the CAN X-4 well. Madalena is a publicly traded international
junior Canadian oil and gas exploration company trading on the TSX Venture
Exchange under the symbol "MVN".† The Company is actively evaluating
international oil and gas opportunities with a primary focus on South
America. Forward Looking Statements The information in this news release
contains certain forward-looking statements. These statements relate to
future events or our future performance. All statements other than
statements of historical fact may be forward-looking statements. Forward-
looking statements are often, but not always, identified by the use of words
such as "seek", "anticipate", "plan", "continue", "estimate", "approximate",
"expect", "may", "will", "project", "predict", "potential", "targeting",
"intend", "could", "might", "should", "believe", "would" and similar
expressions. These statements involve substantial known and unknown risks
and uncertainties, certain of which are beyond the Corporation's control,
including: the impact of general economic conditions; industry conditions;
changes in laws and regulations including the adoption of new environmental
laws and regulations and changes in how they are interpreted and enforced;
fluctuations in commodity prices and foreign exchange and interest rates;
stock market volatility and market valuations; volatility in market prices
for oil and natural gas; liabilities inherent in oil and natural gas
operations; uncertainties associated with estimating oil and natural gas
reserves; competition for, among other things, capital, acquisitions, of
reserves, undeveloped lands and skilled personnel; incorrect assessments of
the value of acquisitions; changes in income tax laws or changes in tax
laws and incentive programs relating to the oil and gas industry ;
geological, technical, drilling and processing problems and other
difficulties in producing petroleum reserves; and obtaining required
approvals of regulatory authorities. The Corporation's actual results,
performance or achievement could differ materially from those expressed in,
or implied by, such forward-looking statements and, accordingly, no
assurances can be given that any of the events anticipated by the forward-
looking statements will transpire or occur or, if any of them do, what
benefits that the Corporation will derive from them. These statements are
subject to certain risks and uncertainties and may be based on assumptions
that could cause actual results to differ materially from those anticipated
or implied in the forward-looking statements. The Corporation's forward-
looking statements are expressly qualified in their entirety by this
cautionary statement. Except as required by law, the Corporation undertakes
no obligation to publicly update or revise any forward-looking statements.†
Investors are encouraged to review and consider the additional risk factors
set forth in the Corporation's Annual Information Form which is available
on SEDAR at www.sedar.com. Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.

Dwayne H. Warkentin† President and Chief Executive Officer† Madalena
Ventures Inc.† Phone: (403) 233-8010 ext 229† Anthony J. Potter Vice
President Finance and Chief Financial Officer Madalena Ventures Inc. Phone:
(403) 233-8010 ext 233




.

Suivez-nous :

FaceBook Link      YouTube Link      Twitter Link
23 Octobre 2014 02:38
Les cotes sont différées de 20 minutes pour New York / Amex et de 15 minutes pour tous les autres marchés.
Les indices et les gagnants / perdants de la page d'accueil sont rafraîchis aux 4 minutes.
Technologie de cotation, données historiques et mises à jour quotidiennes fournies par DECISION-PLUS
Cotations fournies par DTN.
© DECISION-PLUS M.C. inc.    Déclaration de confidentialité    Termes et conditions    Publicité