CALGARY, Feb. 25, 2016 /CNW/ - Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTCQX: MDLNF) is pleased to announce it has been recognized as a 2016 TSX Venture 50® company.
Kevin Shaw, President and CEO, commented:
"Achieving a top tier ranking on the TSX Venture 50® is a great honour and recognition for Madalena. The Company would like to acknowledge the support of our shareholders as we continue to grow our Argentina energy business and strategically execute to unlock value from our unconventional shale and scalable resource plays."
The TSX Venture 50® is an annual ranking of the top 10 companies listed on the TSX Venture Exchange in each of the five major industry sectors: Mining, Oil & Gas, Clean Technology & Life Sciences, Diversified Industries, and Technology – based on a ranking with equal weighting given to return on investment, market capitalization growth, trading volume and analyst coverage. All data was as of December 31, 2015. Madalena was selected in the Oil & Gas Sector.
About Madalena Energy
Madalena is an independent, Canadian-based Argentina focused, upstream oil and gas company.
Madalena holds approximately 950,000 net acres in four provinces of Argentina where it is focused on the delineation of large shale and unconventional resources in the Vaca Muerta shale, Lower Agrio shale, Loma Montosa oil play and the Mulichinco liquids-rich gas play. The Company is implementing horizontal drilling and completions technology to develop both its conventional and resource plays.
Madalena trades on the TSX Venture Exchange under the symbol MVN and on the OTCQX under the symbol MDLNF.
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.
SOURCE Madalena Energy Inc.
For further information: Kevin Shaw, P.Eng, MBA, President and Chief Executive Officer, Madalena Energy Inc., Phone: (403) 262-1901 (Ext. 230), firstname.lastname@example.org; Thomas Love, CA, VP, Finance and Chief Financial Officer, Madalena Energy Inc., Phone: (403) 262-1901 (Ext. 227), email@example.com