Madalena Ramps Up Domestic Drilling Operations with Two Rigs Focused on Three Horizontal Resource Plays & Production Growth; Internationally, Drilling Moves Ahead to Delineate the Vaca Muerta Shale as One of Three Shale Plays Across its Blocks

Madalena Ramps Up Domestic Drilling Operations with Two Rigs Focused on Three Horizontal Resource Plays & Production Growth; Internationally, Drilling Moves Ahead to Delineate the Vaca Muerta Shale as One of Three Shale Plays Across its Blocks PR Newswire CALGARY, Alberta, December 6, 2012 CALGARY, Alberta, December 6, 2012 /PRNewswire/ -- TSXV Trading Symbol: MVN Madalena Ventures Inc. ("Madalena") (TSX-V: MVN), an international and Canadian ("domestic") focused upstream oil and gas company is pleased to provide the following operational update. Canadian Operations Update - Greater Paddle River Core Area: Madalena has moved two drilling rigs into its core area of operations located in the Greater Paddle River Area of Central Alberta, where the company holds a significant acreage position of 197 gross (153 net) sections of land (78% average working interest and largely operated by Madalena) across multiple light oil and liquids-rich gas resource plays. Madalena's focus domestically is to exploit its large inventory of horizontal development locations with the expectation to increase production and cash flow year over year. The plan between now and spring break-up is to drill, multi-stage frac, equip and place on production four to five gross (4.0 to 4.2 net) horizontals focused across three key resource plays. To increase production and reserves, the focus throughout 2013 will be to drill horizontals targeting: 1.) Ostracod oil, 2.