Madalena Comments on Recent Developments of Argentina Peso

Source: www.gulfoilandgas.com 1/27/2014, Location: South America

Madalena Energy Inc. does not anticipate the Argentina government’s recently announced easing on currency restrictions to have any significant impact on Madalena’s operations and overall business plan in Argentina. While the Company operates in both Canada and Argentina, virtually all of its cash resources are maintained in Canada. Funding of the capital expenditure program in Argentina is provided on an as needed basis from Canada. In addition, Madalena receives US$ pricing on the sale of its oil and gas production in Argentina.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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