Madison Energy Corp.

Madison Energy Corp.

April 22, 2008 15:22 ET

Madison Files NI 51-101 Reports

CALGARY, ALBERTA--(Marketwire - April 22, 2008) - Madison Energy Corp. (TSX VENTURE:MDC) (the "Company") announces that it has filed its annual disclosure and reports relating to reserves data and other oil and gas information for the year ended December 31, 2007 as required pursuant to NI 51-101. Copies of these documents may be obtained at

The Company is pleased to announce a 21% increase in Net Present Value of Total Proved Plus Probable Reserves from 2006 year end. The Company Reserves as calculated for the year end NI 51-101 Report based on a DCF of 10% places the value at $10.273 Million.

The report shows an increase from 2006 year end of 10.6% of Total Proved plus Probable Oil Reserves and a 15.4% increase in NGL's. Natural Gas Reserves dropped by 7.7%.

Total Proved plus Probable Reserves are as follows:

Before Royalty After Royalty
-------------- -------------
Light Oil Gas NGL Light Oil Gas NGL
296.9 439 18.7 269.7 380 13.4
"MSTB" = thousand stock tank barrels;
"MMSCF" = million standard cubic feet;
"DCF" = discounted cash flow.

Common shares of the Company trade on the TSX Venture Exchange under the trading symbol "MDC".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information