Madalena Energy Inc. declares the initial results of its completion and testing of the Lower Agrio shale formation on its 90% working interest operated block at Curamhuele in Argentina.
Successfully completed the vertical exploration well (Yapai.x-1001) with four hydraulic fractures at depths of 3,731, 3,647, 3,566 and 3,457 metres, the upper three intervals being within the Lower Agrio shale and the lowest interval containing both the Lower Agrio shale and Mulichinco tight sand formations;
All four frac intervals are believed to have penetrated the primary target in the Lower Agrio shale;
Pumped an aggregate of approximately 430,000 pounds of sand and 13,700 barrels of frac water over four days;
Flowed back on controlled choke settings (3 mm to 8 mm) over eight days a total of 1,609 Bbls of oil and 5,444 Bbls of water;