MVN Madalena Energy Inc

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Madalena Ventures Inc. (TSX VENTURE:MVN) ("Madalena" or the "Corporation") on
behalf of its wholly owned subsidiary, Madalena Ventures International Inc., is
pleased to provide an additional update on the TT2 exploration well operated by
Storm Ventures International Inc. (acting as contractor and the National Oil
Company, Entreprise Tunisienne D'Activites Petrolieres (ETAP) as a holder of the
Remada Sud Permit) on the Remada Sud Permit in Southern Tunisia.


Highlights:

- Potentially significant light oil and gas shows were encountered in the main
objective (Ordovician Bir Ben Tartar) while coring. Good yellow fluorescence was
observed in the cores.


- Presence of hydrocarbons was confirmed by one drill stem test which recovered
light oil, gas and no water. The test was run approximately 50 meters below the
top of the Bir Ben Tartar and log analysis indicates that the potential
hydrocarbon column could extend up to approximately another 25 metres below the
tested interval.


- Petrophysical analysis indicates that a secondary objective (Ordovician
Jaffara formation) may also be hydrocarbon bearing.


- Potentially significant gas shows were also encountered while drilling through
the Silurian Tanezzuft shale and sandstone sequence above the Bir Ben Tartar
main objective.


The main target, the Ordovician Bir Ben Tartar formation, consisting of an
extensive sequence of sandstones with minor shale streaks, had potentially
significant gas and oil shows while coring. Upon reaching total depth at 1,500
metres and after log evaluation, several zones of interest were identified in
both the primary and secondary objectives and selected for testing.


Several open-hole drill stem tests were planned but, due to unpredictable
mechanical failures, only one test was successfully completed which recovered
oil and gas in the down-hole sampler, with no water. During testing operations,
well-bore conditions deteriorated and the operator and its partners agreed to
suspend testing and set casing to TD.


The operator is currently waiting for the arrival of stimulation equipment from
outside Tunisia in order to artificially fracture and production test several
zones of interest. It is expected that Schlumberger stimulation equipment should
arrive on location in July. In the meantime, the two cores (approximately 60
meters in total) cut in the Bir Ben Tartar formation have been shipped to
Aberdeen, Scotland, for routine and special analyses. A detailed testing and
stimulation program is also being prepared.


The Sud Remada permit is located in the Ghadames Basin and is approximately 1.2
million acres in size. Madalena has earned a 15% working interest in 600,000
acres on the Sud Remada permit for the drilling of the TT 2 test well, and has
the option to pay 30% of the costs of a second test well to earn an additional
15% working interest in an additional 600,000 acres on the permit. Storm is the
operator and has a 71% working interest and Cygam Energy Inc. has a 14% working
interest.


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.


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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