Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I received via an e-mail from Maglan Capital.
Good post....Do you have a link to this?... Thanks
Dominic Spooner from IAG put together some really good notes about his marketing trip with Madalena in Vancouver on Wednesday March 5th - Here are the salient points:
1. The election is the key to this story: Once Kirchner is defeated the majors will take a stronger interest in the Vaca Muerta and Madalena could catch a JV that could double its MCAP over night. There are 3 candidates. They are all pro business and a big improvement over Kirchner. The politics in Argentina are interesting. As you know the government has posted internal Oil sales at $77/BBL. Gas goes as high as $7. The reason? The government has no choice. They know they have to build the energy industry within their country in order to fix their struggling currency and economic woes. The majors have told the Argentinians they need that price in order to make money in a country where the unions are so prevalent. I am confident the price will always remain above the Brent Price. Furthermore, the government is talking to the unions about curbing some of their more unreasonable practices like “featherbedding” in which companies have to hire 25 Labourers for a job that only needs 10. Recent legislative changes have been positive. Companies can now repatriate 20% of their revenues to their home country after a $250mm spend rather than the old $1B spend. The CEO of YPF has been instrumental in negotiating some of these changes. Keep in mind that $77 Medanitio Oil vs $55 Brent is good for Argentina’s central Bank. They are selling high and buying low. Effectively $77 oil is a hidden consumer tax. Argentina is of course a net importer of oil.
2. The massive change in Madalena over the past year and a compelling valuation: 1 Year ago MVN had 3 concessions and 100 BPD of production. Today the company has 13 concessions and 3600 BPD. MVN is now able to negotiate a JV. The GTE acquisition was done at 19,000/pfboe. It will be paid out in 2 years. (1 year left). The company is drilling out of CF which yield roughly $30mm/year. Shale resources amount to 2.9B BBLS This means MVN is trading at $0.03/recoverable resource BBL. Furthermore, MVN’s NPV 10 valuation is roughly $0.40/share or $200mm. This represents only the conventional assets. The unconventional is free to shareholders at this price. Canada is only $14mm of that value and will be sold when the time is right.
3. Catalyst: Loma Montosa….this is a conventional appraisal play and although I like most of MVN’s plays, I this one the best: MVN has 100% of this play and is of course the operator. The PMN-1117 well provided a good HZ proof of concept in 2012. Since then MVN has drilled the PMN-1094 at Puesto Morales. It has now TD’d and the frac crew is on their way to frac the well. We should have news in about 2 weeks to 1 month. This well only cost $5mm. (only 10 fracs) The target is light oil. Management expects anywhere from 200 BPD- 500 BPD. If they get 500 BPD this well will pay out in less than 1 year. The depth is only 1100 metres. The company has developed significant targets in this field. Puesto Morales is a lot like the field that Petro Andina was so successful in. (interesting fact Wayne Fu drilled 19 duds before that field became a huge hit).
4. Another Catalyst and Good news: Corion Amargo, which lies east of Chevron’s 160 well program, is now contolled by Plus Petrol and MVN as per their voting rights under the JOA. The 3rd partner, Roche, was a small contractor who had previously operated in a difficult and problematic fashion . The partnership is currently drilling the CAN 16 H well and should be finished in Mid April. This is also light conventional oil. MVN is 35% non op. See page 20 of the company’s March presentation for the metrics. They are decent and wells can pay out within a year at 400 BPD.
5. About the Shales: lots of activity here. Land is going for $5000 to $17,000/ acre. MVN has 1mm acres. 2 imminent wells for MVN: CH.x-1 is a vertical test well in the lower Agrio that originally flowed 75 BOPD without a frac, and Yp.X-1001 is a vertical test into the Mulichinco which offsets the YP.x which tested 10mmcfpd of gas and 500 BOEPD of 51% condensate after acidizing. The idea here is to de risk and sell these shales. Keep in my mind there are multi $B programs surrounding MVN’s lands.
6. Canada: Currently stranded by Keyera, these assets will be sold when they are producing again. Good to have some direction on that.
"Madalena Energy, Andes Energia and Horizonte Minerals next week"
By Proactive Investors March 06 2015, 5:30pm
"Next Thursday we would be delighted if you could join us in Mayfair for an update from three exciting resource stocks."
xxx
"Madalena Energy, meanwhile, aims to cash in on Argentina’s growing status as a shale oil address.
Financier George Soros has joined several oil majors in backing projects in the country, while the company just revealed a 155% increase in proved plus probable reserves.
These 2P reserves are worth $199mln, but Madalena has 14 concessions across Argentina stretching over one million net acres of land in an area dominated by industry majors such as YPF, Chevron, Total and Exxon.
The latest reserve estimate also barely included any credit for its high impact, unconventional assets, which include the Lower Agrio shale or Mulichinco, and incorporated just 105 Mboe of Vaca Muerta reserves. "
Kevin Shaw, CEO, will join us to discuss.
http://www.proactiveinvestors.co.uk/companies/news/78009/madalena-energy-andes-energia-and-horizonte-minerals-next-week-78009.html
Bad day today, and bad day coming monday
Madalena holder Maglan now controls 12.74% of shares
2015-03-05 10:21 MT - News Release
An anonymous director of Maglan reports
MAGLAN CAPITAL DISCLOSES ITS POSITION IN MADALENA ENERGY INC.
On Jan. 30, 2015, Maglan Capital LP, on behalf of Maglan Distressed Master Fund LP and certain managed accounts for which it has discretionary trading authority, acquired beneficial ownership of 4,092,500 common shares of Madalena Energy Inc., representing approximately 0.8 per cent of the then issued and outstanding common shares, on a partially diluted basis, of Madalena. After giving effect to the acquisition of the acquired shares, Maglan Capital controlled and directed 57.9 million common shares of Madalena, representing approximately 10.73 per cent of the then issued and outstanding common shares, on a partially diluted basis, of Madalena.
During the period of February 11, 2015 to March 4, 2015, Maglan Capital on behalf of Maglan Fund and certain managed accounts for which it has discretionary trading authority acquired beneficial ownership of an additional 10,866,900 common shares ("Additional Acquired Shares") of Madalena, representing approximately 2.01% of the issued and outstanding common shares, on a partially diluted basis, of Madalena. After giving effect to the acquisition of the Additional Acquired Shares, Maglan Capital controls and directs 68,766,900 common shares of Madalena, representing approximately 12.74% of the issued and outstanding common shares, on a partially diluted basis, of Madalena.
The acquisition of the Additional Acquired Shares occurred through the facilities of the TSX-V at a price per Additional Acquired Share of between Cdn$0.275 and Cdn$0.41. The Additional Acquired Shares were acquired for investment purposes. Maglan may dispose of its holdings or acquire ownership of, or control or direction over, additional securities of Madalena, depending on market conditions and in compliance with applicable law.
The issuance of this news release is not an admission that an entity named in this news release owns or controls any described securities or is a joint actor with another named entity.
Maglan Capital is located at 25 West 39th Street, New York, NY 10018, USA.
© 2015 Canjex Publishing Ltd. All rights reserved.
Lol, you're right they may be there shortly. Good article thanks.
Could be healthy after the past 3 weeks move up. Plenty of media talk on cheaper oil coming, we will see.
Hard to tell how far this would drop on any pullback, when you have support like this from a fund plus the many retail investors they have alerted to this. Those alerts also went to traders which should mean a little better liquidity here, meaning higher buy and sell volume moving forward and better bid asks. All in all better for the company and shareholders, imo.
My bad....but the way they have been buying lately, will be there shortly.
Haven't looked at many posts in the past, but this looks good.
http://www.thestreet.com/story/13035168/1/this-tiny-oil-and-gas-company-is-actually-benefitting-from-price-drop.html
Hey Whassup, good searching. I'm seeing a different total though.(66,613,400 )Which is Coach's total from the other day .
xxx
Insider Name: Maglan Capital LP
Insider Relationship: 3 - 10% Security Holder of Issuer
Ceased to be Insider: Not Applicable
2015-03-02Common Shares Maglan Distressed 12,790,900
2015-02-23Common Shares Master Fund LP 53,822,500
Looks like Maglan owns 77 mil shares
https://www.sedi.ca/sedi/SVTIIBIselectIssuer
Change issuer name to issuer number and key in 00017647
Use Date Range...Change start date to whatever...
Hit search...a new page comes up...pick "view" in blue letters...
Looks like it has peaked. Dropping back down soon
Detailed Corporate Presentation
http://www.madalena-ventures.com/download/Corporate%20Presentation%20March%202015%20Final.pdf
http://www.madalena-ventures.com/
A good list of Argentina o&g incentives and subsidies listed in the article below, and these represent a reason why MDLNF might become a partner(farm-in)/takeover target sooner than later. They hold 1 million acres surrounded by oil majors Exxon , Chevron, Total, plus Sinopec Shell and Petronas are there as well.
xxx
"Argentina boosts subsidies for oil output, exports"
4 Feb 2015, 7.19 pm GMT
Buenos Aires, 4 February (Argus) — Argentina's government will subsidize oil production and exports by as much as $6/bl as part of a stimulus program to prevent a drop in output amid lower international crude prices.
The government will provide an additional $3/bl to companies that maintain or increase output when compared to the last quarter of 2014. Exporters will receive an additional $2/bl for crude sold abroad, which rises to $3/bl for companies that increase the amount exported from last year, according to a resolution published in the country's Official Bulletin today.
Companies that export crude will be eligible for both subsidies.
The additional money per barrel will be paid as long as producers of 34°API Medanito receive no more than $84/bl for their output, including the subsidy, while those who produce 24°API Escalante, much of which is exported because it is too heavy for the domestic refining network, can receive a maximum of $70/bl.
read the rest:
http://www.argusmedia.com/News/Article?id=987877
Thanks Coach, so it's more like 13M and climbing, rather then the 5M, big difference. They have offered to share some DD they've compiled on this company and two others via email if you or anyone is interested. (see below)
xxx
maglancapital • Feb 16, 2015 9:28 AM
"Research"
"If you are looking for research on MDLNF please send me an email to stevenATmaglanDOTcom"
I`ve got them at 12.34% Not written in stone... 66,613,400 of 539,782,268 OS from Sedi.ca
Below is a current yahoo headline article talking about oil storage and prices, this shouldn't effect mdlnf as their oil is purchased at a set price by Argentina. But markets are tricky , there was a large dump with the Opec limits and oil crash last year, but maybe all the larger weak hands are already out, we'll see soon enough.
"US running out of room to store oil; price collapse next?"
"Oil glut: US running out of room to store crude; prices for oil and gasoline could plunge"
http://finance.yahoo.com/news/us-running-room-store-oil-171025359.html
I hear ya, was painful to watch. The unexpected Opec/oil limits screwed us last year, the baby and the bathwater thing. Had been thinking about adding when there is no more room for oil storage because this may get taken down with the sector again. But with all the buying by Maglan it may be too late at that point.
Noticed they had gone from 9.8% to over 11% ownership in some articles, which is over 5M shares since Dec. Then Coach's link showed the continued daily buying. Unsure of their totals now.
Nice to see this find its legs finally!
All the buying is certainly moving this and attracting others. Way undervalued here, even now imo. Should easily move to back to .50-.60 range
You're welcome...they added yesterday also
Maglan Capital buying plenty here, Thanks Coach for the link.
https://www.canadianinsider.com/node/7?ticker=mvn
"Argentinian Shale's Most-Underrated Player"
"This is a multi-bagger win for investors, as Madalena has secured large acreage positions on prolific conventional plays, massive unconventional shale assets and multiple large in-place horizontal resource plays. With two horizontals currently being drilled in the field, USD $76/Bbl oil prices in Argentina and a solid 2015 plan, Madalena is uniquely positioned in today's energy market. "
http://finance.yahoo.com/news/argentinian-shales-most-underrated-player-130000432.html
R I actually looked into MDLNF after reading a well thought out post from you regarding G*. I looked into all your post and saw M*. Recently heard of M* on the Y MB and and to Maglan's research i will soon add M* to the list.
Hi QC, I found this through an article about the other company and Maglan Capital last summer. Like this play even though I was a little early, in at .60 and added a little around .30. Waiting now till the oil glut actually happens to add some more , thinking the middle of Q2.
As pointed out in these posts an oil glut doesn't matter to MDLNF being that they have a set price they're being paid per bbl. However they will be taken down with the sector, as shown in the past few months.
This is a nice play, imo, a debt free small company with potentially rising revenue. The oil majors on the land next to them can move this pps north by hitting big. Glad you're here as well, thinking longer term here, GL.
Rattle! Good to know that you are here too. Heard about this on the G* yahoo MB.
Nice volume here today! Let's hope this continues into tomorrow.
$MDLNF
Madalena is actually benefiting from Oil price drop
http://www.thestreet.com/story/13035168/1/this-tiny-oil-and-gas-company-is-actually-benefitting-from-price-drop.html
that story is old, same ole same ole and the stock does zippo.....
beginning to think its not worth the risk........
good luck with it.
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Madalena is the Most Promising Growth Player In Argentinian Shale
http://oilprice.com/Finance/investing-and-trading-reports/The-Most-Promising-Growth-Player-In-Argentinian-Shale.html
Madalena Energy provides an operations udpate and posts an updated corporate presentation
FRIDAY, JANUARY 30, 2015
Madalena Energy Inc. (TSXV: MVN and OTC: MDLNF) provides the following operational update:
Domestic operations update: Western Canada
On January 28, 2015, Madalena was advised by Keyera Corp. that Keyera's Paddle River gas plant will be shut down for a minimum period of two months commencing February 1, 2015 due to current economic conditions and recent commodity price declines in North America. The majority of the Company's Western Canada gas production (including solution gas relating to the Company's Canadian oil production) is processed at this Paddle River facility. As a result of the gas plant shut-down, Madalena will temporarily suspend production of approximately 660 boe/d in Western Canada (40% oil) on February 1, 2015.
The impact of this shutdown is a decrease in estimated funds flow from operations of approximately CDN $125,000 per month.
Madalena is currently reviewing other alternative existing plant options in the general area to assess potential interim or long-term processing capabilities.
Madalena's recent Nordegg oil and gas discovery at West Cove will not be tied-in until economic conditions improve and the Keyera plant situation is satisfactorily resolved. Additionally, two recently drilled and completed Paddle River Ostracod wells have not tested hydrocarbons in economic quantities and will remain suspended.
Post the Keyera plant shutdown, Madalena estimates its current base production at 3,600 boe/d (76% oil & NGL's) with approximately 97% being realized from the Company's Argentina operations where the current posted price for Medanito crude oil in Argentina is USD $77 per barrel.
International Operations Update: Argentina
Puesto Morales (100% WI) Field - Horizontal Drilling of Loma Montosa Oil Resource Play
Madalena has mobilized a drilling rig for its 100% working interest operated PMS-1135(h) drilling location. The well is expected to spud within the next few days and will target the Loma Montosa oil resource play at a vertical depth of approximately 1,385 metres. The well will be drilled horizontally for approximately 800 metres and be completed with approximately 10 frac stages.
The Loma Montosa represents one of four key resource plays being pursued by Madalena in 2015. The Vaca Muerta shale, Agrio shale and liquids-rich Mulichinco comprise the other three resource plays. The Loma Montosa play is located in Madalena's Puesto Morales area which covers over 30,000 net acres of 100% working interest lands. There has been historical Loma Montosa oil production from 16 vertical wells on the Puesto Morales block. Madalena operates and controls a 100% working interest facility and pipeline infrastructure in the area. To unlock this resource play, the Company intends to apply horizontal multi-frac technology to increase recoveries and improve overall play economics.
Coiron Amargo (35% WI) Block - Sierras Blancas Horizontal Exploitation & Vaca Muerta Shale Delineation
CAN-16(h) is the Company's fourth Sierras Blancas horizontal well at Coiron Amargo. The well is currently drilling in the build section of the trajectory. The Company anticipates that the drilling operations will be completed by mid-February and the well placed on production in March 2015.
CAS.x-16 was drilled vertically to a total depth of 3,160 metres and rig released in December 2014. The well encountered 125 metres of Vaca Muerta shale reservoir. Following the drilling operations, the well was opened to flow un-stimulated (no acidization or fracture treatments) on a 2 mm choke at a pressure of approximately 570 psi with an initial rate of 60 Bopd of light oil. After approximately 30 days of flowing, the well continues to produce at a stabilized rate of 20 Bopd at approximately 250 psi. Management is encouraged by this unstimulated Vaca Muerta flow rate and believes the rate is potentially being restricted by a downhole tool (left by the operator of the Coiron Amargo concession) which needs to be retrieved. The well builds pressure to 4,200 psi after 3-4 hours of shut-in which is indicative of a damaged or restricted well. Further operations are expected to commence in February and following the recovery of the downhole tool, the Company will work with its partners to design and implement a stimulation program with the objective to further test and increase production from this vertical delineation well.
CAS.x-15 was a previously drilled vertical well that encountered 114 metres of Vaca Muerta shale reservoir. In December 2014, operations resumed at this location and the well was set-up for future stimulation activities. The Company will work with its partners to design and implement a stimulation program on this vertical delineation well in 2015.
Madalena is also working with its partners at Coiron Amargo to plan its first horizontal multi-stage frac well into the Vaca Muerta shale which is an important step to unlocking this unconventional resource. It is anticipated that Madalena and its partners will commence drilling operations on the first horizontal in late Q4 2015.
Curamhuele (90% WI) Block - Drilling Rig Secured for Agrio Shale & Mulichinco Appraisal Program
Following an application and approval process working with both the Province of Neuquén and partner Gas Y Petroleo the Neuquén Provincial oil company), the current exploration period for Madalena's 90% W.I. Curamhuele block has been granted an extension to September 8, 2015, which will provide timing flexibility to fulfill the remaining work commitments on the block. No further commitments were required to obtain this extension which provide for additional scheduling flexibility.
This extension was recently formalized by way of an official decree signed by the Province of Neuquén in Argentina.
Madalena and its partner GyP have secured a drilling rig for the re-entry, sidetrack and completion (frac and test) of the CH-x-1 well targeting the Agrio shale and the deepening of the YP-x-1001 well to frac and test the Mulichinco liquids-rich gas resource play. Regulatory approvals have been received and the Company anticipates commencing operations in late Q2 or early Q3 2015.
Madalena's Curamhuele block is within the oil window of the Agrio shale with an estimated thickness of 225 metres and is directly offsetting a recently announced Agrio shale discovery by the Argentina state company YPF. In addition to the Agrio shale, the primary zones of interest on the Curamhuele block are the unconventional Vaca Muerta shale and liquids rich Mulichinco.
After satisfying these remaining work commitments, Madalena expects to either convert certain areas of the acreage into an exploitation (development) concession and/or enter into a new exploration period(s) or unconventional evaluation phase to further explore and appraise the Curamhuele block.
Rationalising of non-core assets and joint venture opportunities
Madalena's strategy is to focus on the delineation of its strategic unconventional resources in Argentina. The Company's Western Canadian assets are considered non-core to the future of the Company.
Accordingly, there has been no capital allocated to the Western Canadian assets in the Company's 2015 budget.
The Corporation is committed to rationalizing select non-core assets as appropriate and continues to actively seek joint venture opportunities, which would permit it to accelerate the exploration and development of its properties.
http://www.oilvoice.com/n/Madalena-Energy-provides-an-operations-udpate-and-posts-an-updated-corporate-presentation/c56c703e731b.aspx
"Low commodity prices prompt gas plant shutdown"
Dan Healing, Calgary Herald
Published on: January 30, 2015 | Last Updated: January 30, 2015 2:22 PM MST
"Low oil and gas prices and declining activity in a region just northwest of Edmonton have convinced Calgary-based Keyera Corp. to shut its Paddle River gas plant for at least two months, forcing the shut-in of most of the Canadian production of junior Madalena Energy Inc."
.
.
.
"Madalena added its recent Nordegg oil and gas discovery at West Cove will not be tied-in until economic conditions improve and the Keyera plant is back in service. Two recently drilled and completed Paddle River Ostracod wells have not tested hydrocarbons in economic quantities and will remain suspended, it reported."
read the rest here
http://calgaryherald.com/business/energy/low-commodity-prices-prompt-gas-plant-shutdown
http://calgaryherald.com/business/energy/low-commodity-prices-prompt-gas-plant-shutdown
Madalena Energy Inc. and Maglan Capital Announce Agreement and Board Changes
http://www.prnewswire.com/news-releases/madalena-energy-inc-and-maglan-capital-announce-agreement-and-board-changes-289764551.html
This is interesting, wondering if this is the newly completed well from the November news release or one of the two newly drilled and cased wells. If it's one of the two newly cased wells that was being completed, then this article is saying there is oil there too. The incident report should have more detailed info, hmmm.
xxxxxxxx
Nordegg Horizontal Play - New Oil & Gas Exploration Discovery
Madalena has made a new oil and gas discovery (100% WI) in the Nordegg formation through the drilling, casing and stimulation of an exploratory well. The well was drilled horizontally in the Nordegg formation to a total measured depth of 2,533 metres, with a horizontal lateral section of approximately 830 metres in length. The well was subsequently completed, stimulated and flowed-back on clean-up for 67 hours.
During the 67 hour clean-up period the well flowed continuously up 7 inch casing at an average rate of 396 bbls/d of oil and 1.6 MMscf/d of natural gas for a total of 663 Boe/d (60% Oil). During the final 24 hours of the clean-up period the well flowed at an average rate of 367 bbls/d of oil and 2.1 MMscf/d of natural gas for a total of 718 Boe/d (51% Oil). During the total 67 hour clean-up period the well recovered a total of 1,100 Bbls of 30.5° API oil, 4.5 MMcf of natural gas and 1,416 barrels of water.
This exploration well was drilled and stimulated for an estimated cost of CDN $2.3 million and is currently being prepared for an extended flow test.
Madalena holds over 140 net sections of Nordegg rights across its land base in the greater Paddle River area and has an inventory of potential horizontal drilling locations.
Additionally, Madalena has drilled and cased two Ostracod horizontal wells (100% WI) offsetting its Paddle River Ostracod oil pool. As these wells were drilled from the same surface pad field operations are being staged. Completion operations are currently ongoing.
http://ih.advfn.com/p.php?pid=nmona&article=64278113&symbol=MDLNF
That article is 6 days old.
Oil and water leaked at well near Sangudo
Sunday, January 18, 2015 12:54:06 MST PM
Crude oil and produced water were leaked from a sour crude oil well 15 km southwest of Sangudo on Jan. 8.
About 0.1 cubic metres of crude oil and salt were released from the well, owned by Madalena Energy. One cubic metre contains 1,000 litres. There was also a leak of 3.8 cubic metres of produced water.
Although sour oil is high in sulphur, no hydrogen sulphide was detected during the release, according to the incident report that Madalena submitted to the Alberta Energy Regulator.
The release occurred during routine maintenance testing, the report said, adding that cleanup was underway and there were no reported impacts to wildlife or waterbodies.
http://www.mayerthorpefreelancer.com/2015/01/18/oil-and-water-leaked-at-well-near-sangudo
--Kevin Hampson
Madalena owns 90% of oil in Argentina
http://www.northernminer.com/news/editorial-oil-dips-below-us-50-per-barrel/1003422320/?&er=NA
"Madalena Energy sitting just east of major industry activity at Loma Campana"
By Deborah Sterescu
January 09 2015, 10:07pm
(From Proavctive Investors in the UK)
xxxx
"Madalena Energy (CVE:MVN) could be getting closer to clinching a joint venture this year for its Argentina assets that offset the Loma Campana development where drilling activity is heating up. "
http://www.proactiveinvestors.co.uk/companies/news/76097/madalena-energy-sitting-just-east-of-major-industry-activity-at-loma-campana-76097.html
Yup! GO MDLNF!! Will bounce up next week
Do you still think so?
Nice close today, and news is out!
http://www.proactiveinvestors.com.au/companies/news/59958/madalena-energy-updates-on-2015-capital-program-59958.html
once oil back in the spotlight we might be better off......but double ok
with me.......................best
Jeff
Time to shine Madalena! Easy double from here
I predict this stock will hit $1 this year
Followers
|
7
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
304
|
Created
|
05/14/14
|
Type
|
Free
|
Moderators |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |