MVN Madalena Energy Inc

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THE UNITED STATES


Madalena Ventures Inc. (TSX VENTURE:MVN) ("Madalena" or the "Corporation") on
behalf of its wholly owned subsidiary, Madalena Ventures International Inc., is
pleased to announce the commencement of drilling of the TT-2 exploratory well on
the Sud Remada Permit ("Remada Block") operated by Storm Ventures International.


The TT-2 well is being drilled on a large Ordovician structure which has an
areal extent of approximately 70 square kilometres. The well will be drilled
approximately one kilometre from an older well (TT-1) which recovered light oil
and gas when drilled and tested in 1959. New 2D seismic data shot and
interpreted in 2007 indicates that the TT-2 location should encounter the target
Ordovician Bir Ben Tartar sandstones 15 to 20 metres higher than in the TT-1
well. It is expected that drilling and testing operations in this 1,600 metre
well will last approximately 30 days.


The Remada Block has exploratory potential in the Ordovician, Silurian Acacus
and Triassic Ras Hamia formations. All three zones are proven commercially
productive from adjoining blocks in Libya or Tunisia with significant reserves
potential. The 2D seismic program conducted over the Block during 2007 has also
delineated additional prospective structures which are under review by the
Company for drilling consideration. The new seismic program has enlarged the
potential for the primary drilling prospect in the Ordovican, and also
identified several new leads for the Acacus play. Madalena will pay 30% of the
well costs to earn a 15% working interest in approximately 600,000 acres in the
Remada Block, with an ongoing option to drill a second test well at 30 %
participation to earn a 15% working interest in an additional 600,000 acres.


Madalena also advises that the interpretation of the offshore 3D seismic program
conducted over the Hammamet Block in the Pelagian Basin offshore Tunisia is
progressing well. The 3D seismic program indicates the presence of several high
quality features that the Company is evaluating for potential drilling during
2008/2009. A study of the 3D seismic program is also ongoing to evaluate the
potential reactivation of the Tazerka field located on the Hammamet Block which
recovered approximately 21 million barrels of oil prior to its deactivation.
Madalena maintains the option to participate for 30% in the drilling of a well
on the Hammamet Block to earn a 15 % working interest in the entire 1.1 million
acre Hammamet Block.


Madalena is a publicly traded international junior Canadian oil and gas
exploration company trading on the Toronto Venture Stock Exchange under the
symbol "MVN". The Company has assets in Canada, Tunisia and Argentina and is
actively evaluating international oil and gas opportunities with a primary focus
on South America and North Africa.


MADALENA VENTURES INC.

On behalf of the Board

Ken Broadhurst, President

Forward Looking Statements

Certain information set forth in this press release, including a discussion of
future plans and operations, contains forward looking statements that involve
substantial known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond management's control, including but not limited to, the impact of general
economic conditions, industry conditions, fluctuation of commodity prices,
fluctuation of foreign exchange rates, environmental risks industry competition,
availability of qualified personnel and management, stock market volatility,
timely and cost effective access to sufficient capital from internal and
external sources, as well as risks inherent in operating in foreign
jurisdictions, including varying judicial or administrative guidance on
interpreting rules and regulations and a higher degree of discretion on the part
of governmental authorities. Actual results, performance or achievement could
differ materially from those expressed in or implied by these forward-looking
statements.


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


This news release does not constitute an offer to sell or the solicitation of
any offer to buy the securities in any jurisdiction. The Common Shares will not
be and have not been registered under the United States Securities Act of 1933
and may not be offered or sold in the United States, or to a U.S. person, absent
registration, or an applicable exemption therefrom.

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