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CALGARY, March 14, 2016 /CNW/ - Madalena Energy Inc.
("Madalena" or the "Company") (TSXV: MVN and OTCQX: MDLNF)
announces that, due to prevailing market conditions, it has elected
not to proceed with the acquisition of an additional 10% working
interest in the Coiron Amargo block in Argentina and the related marketed public
offering of common shares of the Company, previously announced
on March 1, 2016.
About Madalena Energy
Madalena is an independent, 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.
THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES ABSENT
REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE
SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL.
SOURCE Madalena Energy Inc.