November 28, 2008 Press Release - Madalena Announces Grant of Options
November 25, 2008 Press Release - Financial and Operating Results September 30, 2008
In March of 2006 Madalena shifted its focus from Canadian mining operations to international oil and gas exploration and development. An experienced international management team joined Madalena in April 2006. In May and June of 2006, Madalena announced that it had entered into Seismic Option and Joint Venture Agreements with Storm Ventures International Inc. to jointly explore the Hammamet offshore and Remada Sud onshore blocks in Tunisia.
The Company is focused on South America and Tunisia for the establishment of its initial core asset bases. The Company successfully closed an equity financing in December of 2006 for approximately $20 million in gross proceeds for international investment purposes. Strategic alliances negotiated with other international companies and local operating companies established in these core areas have yielded a number of prospective investment opportunities currently under evaluation by Madalena.
Madalena´s strategy is to create value and provide superior returns to our shareholders through the generation of a balanced portfolio of high quality oil and gas assets in proven hydrocarbon areas characterized by competitive fiscal terms and significant development potential.
Madalena is listed on the TSX Venture Exchange under the symbol "MVN"