NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Madalena Ventures Inc. ("Madalena" or the "Corporation") (TSX VENTURE:MVN) on
behalf of its wholly owned subsidiary, Madalena Ventures International Inc., has
received an update from Storm Ventures International Inc. ("Storm"), the
operator of the Remada Sud permit in southern Tunisia and is pleased to provide
preliminary results on the TT2 exploratory well.


The exploratory well reached a total depth of 1500 meters in the Ordovician
Kasbah Leguine formation and encountered hydrocarbons in the Ordovician Bir Ben
Tartar formation, as well as having indications of hydrocarbons in the
Ordovician Jaffara and the Silurian Tannezuft formations.


Three intervals in the Bir Ben Tartar were tested. The upper two intervals
attained combined flow rates of 300 barrels of oil per day of 45 degree API oil
and 200 thousand cubic feet of associated gas without stimulation. The lowest
interval tested small amounts of formation water and was abandoned.


Core data and pressure build-up analysis indicated the reservoir has relatively
low matrix permeability and the well was hydraulically fractured. Initial
results show that the well has significant inflow post stimulation and has
experienced higher water cuts than seen initially; however there is still
approximately 700 barrels of load water to be recovered. Storm is mobilizing the
equipment required to safely evaluate the post hydraulic fracture potential of
the well and determine stabilized flow rates. Additional information on the
potential commerciality of the discovery will be released once it has been
determined.


Following the evaluation of the Bir Ben Tartar formation, the partners intend to
evaluate an uphole secondary objective that provided strong hydrocarbon shows
while drilling.


Upon completion of testing operations, the well will be temporarily suspended
pending further appraisal of the discovery and submission of a development plan
to ETAP, the Tunisian National Oil Company.


The discovery of light oil in a large structure at relatively shallow depths on
the eastern side of the 1.2 million acre block confirms the presence of a mature
source rock and effective hydrocarbon migration route increasing the chance of
success for several other prospects identified on the block. The TT2 well was
drilled on a large Ordovician structure which has an areal extent of
approximately 70 square kilometers. Initial drilling results and testing
information acquired to date indicate that the reservoir may be an ideal
candidate for the application of horizontal drilling technology in the future
development plans for the block.


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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