Madison Energy Corp.

Madison Energy Corp.

November 03, 2005 11:10 ET

Madison Saskatchewan Update

CALGARY, ALBERTA--(CCNMatthews - Nov. 3, 2005) - Madison Energy Corp. (TSX VENTURE:MDC) ("Madison") Madison reports that it has participated in a Bakken well in Southeast Saskatchewan that has been drilled and completed. The well is pumping at a rate of 115 barrels per day at a 30% watercut. Gross oil production is 80 barrels per day of light 42 degree API oil. The well is currently undergoing optimization work. Madison is a 20% working interest partner in the project. The operator of the project is currently moving towards drilling additional locations. There is the potential to drill another 7 wells offsetting this well on existing lands. Madison continues to increase its production by the drill bit. The company expects to give a full operational update prior to the end of November.

Madison is a Calgary-based corporation engaged in the acquisition, exploration and development of Canadian resource properties. 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

  • Madison Energy Corp.
    John Murdoch
    President and Director
    (403) 266-3453
    Madison Energy Corp.
    1000, 407 - 2 St. SW
    Calgary, Alberta T2P 2Y3