Sunday, February 22, 2015

Madalena Energy increases 2P oil reserves 155%


Year End 2014 Reserves Highlights:

 • Proved (“1P”) reserves have increased 149% from 2,603 MBoe to 6,490 MBoe;

 • Proved plus Probable (“2P”) reserves have increased 155% from 4,505 MBoe to11,494 MBoe;

 • 1P and 2P reserves per common share have increased 68% and 72% respectively;

 • 2P reserve replacement was 763%;

 This is good news for Madalena Energy and does not even include any reserves from the Vaca Muerta shale areas. As oil recovers I am expecting big things from Madalena.

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