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Magnum Energy MEN.v

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By Bobwins

Posted: Wednesday Apr 1 11:54:05AM 2009 Magnum finally gets their pipeline approval for Sedalia field. They drilled an initial recompletion and tested 1million cfpd in early 2008. They bought more land and drilled 3 wells late last year. They have tested two at a million and 750mcfpd. So initial production will be over 2 million cfpd. Huge increase for Magnum because they only produced 99boepd for Qtr ending 11/30/08. Should at least double production. Bobwins

By Bobwins

Posted: Tuesday Aug 19 11:43:33AM 2008

After only 7 months, the ERB has granted MEN.v their GPP approval. I wonder why Alberta has less drilling activity than before? +.03 to C$.44. Well should add up to 200bpd net to MEN.v. Bobwins Magnum Energy Inc.: Cardium Well Receives GPP Approval Tuesday August 19, 12:36 pm ET VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 19, 2008) - Magnum Energy Inc. (TSX VENTURE:MEN - News) is pleased to report that the operator of the Cardium well has been granted GPP (Good Production Practices) effective August 1, 2008. The operator also reported that the ERCB will require the operator to retire a small amount of over production (306.6m3) during the NOWPP (new oil well pool period), the over production will be retired by the end of August. ADVERTISEMENT Starting in September, the well will be allowed to produce at its maximum rate. The Cardium well initially flow tested in excess of 600 barrels per day of sweet light crude. The ERCB has also granted royalty free status for the first year of production. Magnum has a 31.5% net working interest in the well. Magnum Energy will announce the stabilised rate of production once the operator has time to make all the necessary adjustments to the pump and compressor. This adjustment period usually takes about 60 days. In the interim, the operator is preparing an all season road to ensure year around deliveries of the oil. The TSX Venture Exchange has neither approved or disapproved the contents of this press release. Contact: Richard Nemeth Magnum Energy Inc. Vice President of Corporate Development (604) 669-3155 (604) 669-3177 (FAX) Email: Website:

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