One of four significant resource plays for small-cap Canadian explorer Madalena has been described as a “sleeper” that has now awakened, with successful horizontal well testing in the Loma Montosa light oil formation in Argentina – showing 860 barrels of oil equivalent per day from a shallow and scalable resource play. On 8 April, Madalena Energy Inc. (TSXV: MVN and OCT:MDLNF) announced the completion and testing at a key horizontal well in the Loma Montosa formation at Puesto Morales (31,254 net acre block), which is one of four strategic…
SOURCE: Oilprice.com – Read entire story here.
