Exploration & Production | Quarterly / Earnings Reports
Madalena Ups Productive Capability by 900%
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Madalena Ventures Inc. has reported its operating and financial results for the three months and year ended December 31, 2012 and the Company's 2012 year end reserves.
2012 Year End Financial and Reserve Highlights:(as of December 31, 2012 - all amounts are in Canadian dollars and net to Madalena's interest unless otherwise stated.)
Maintained a strong balance sheet with a positive working capital of approximately 30.0 million and zero debt; Total Company proved plus probable (P+P) reserves of 3.894 MMboe (46% crude oil and natural gas liquids) representing a 149% increase from Madalena's 2011 year end P+P reserves; 62% of P+P reserves are categorized as proved reserves; A P+P reserve life index of 13.2 years and a proven reserve life index of 8.2 years, based on December 2012 actual…- ✓ Full news archive — U.S., Canada & international coverage
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