Magnum Energy Inc.: Sedalia Re-Entry Update
January 14 2008 - 5:21PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: MEN) is pleased to
report that operations at the previously announced 100% working
interest Sedalia well re-entry have been concluded. Upon re-entry
and re-completion of the target zone, a flow test was performed
which indicated an initial flow rate of one million cubic feet a
day.
The well has now been shut in and the Company is preparing to
equip and tie-in the well for production. The Company anticipates
being able to re-activate the currently abandoned pipeline to the
well and therefore expects production to commence within the next
month.
The Company is in the process of preparing the necessary surface
and regulatory applications to re-enter a second well location on
an adjacent 100% working interest section.
The TSX Venture Exchange has neither approved or disapproved the
contents of this press release.
Contacts: Magnum Energy Inc. Richard Nemeth (604) 669-3155
Magnum Energy Inc. Allan Thompson (604) 669-3155 (604) 669-3177
(FAX) Email: athompson@magnumenergyinc.com Website:
www.magnumenergyinc.com
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