Madison Energy Corp.

Madison Energy Corp.

March 02, 2005 14:36 ET

Madison Announces Drilling of Nisku Test


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MADISON ENERGY CORP.

TSX VENTURE SYMBOL: MDC

MARCH 2, 2005 - 14:36 ET

Madison Announces Drilling of Nisku Test

CALGARY, ALBERTA--(CCNMatthews - March 2, 2005) - Madison Energy Corp.
(TSX VENTURE:MDC) (the "Company") announces that in the Meekwap area,
the Company participated in the drilling of a successful Nisku test. The
well has been cased and a short-term test confirmed the well is capable
of oil production. The well is currently awaiting production equipment
which will be on location in March. A longer-term test period will then
be run to establish a rate of production. The Company has a 5-per-cent
interest in the well before payout subject to an overriding royalty and
2.5-per-cent interest after payout. There are an additional five
potential drilling locations (320 hectares) on the remainder of the
property, which Keeper Resources Ltd. has a 2.5-per-cent interest.

Madison is a Canadian-based corporation engaged in the acquisition,
exploration and development of resource properties. Common Shares of the
Company trade on the TSX Venture Exchange under the trading symbol "MDC".

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Madison Energy Corp.
    John Murdoch
    Chief Executive Officer
    (403) 266-3453
    Email: murdochj@telus.net
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.