Exploration & Production | Quarterly / Earnings Reports
Madalena Extends Neuquen Basin Exploration
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Madalena Energy Inc. has reported its financial and operational results for the three and six months ended June 30, 2013.
Summary Financial and Operational Highlights Second Quarter 2013 HighlightsAs at June 30, 2013, the Company continues to maintain a strong balance sheet with a positive working capital of $7.7 million, an unutilized credit facility of $13 million and increasing production levels.
Post Q2, Madalena supplemented its existing working capital with a $7.25 million equity financing that closed in early July 2013.
International Operations in Second Quarter 2013 - Neuquén Basin, ArgentinaIn June 2013, the exploration period for Madalena's 90% working interest Curamhuele block was extended by way of an official decree signed by the Province of Neuquén. This one year…
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