/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE U.S./
CALGARY,
Jan. 27, 2014 /CNW/ - Madalena
Energy Inc. ("Madalena" or the "Company") (TSXV: MVN) and
(OTC: MDLNF), 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.
This news release includes certain statements
that may be deemed "forward-looking statements" within the meaning
of applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the Company's operations, exploration and development plans,
expansion plans, estimates, expectations, forecasts, objectives,
predictions and projections of the future. Specifically, this news
release contains forward looking statements with respect to the
impact of the Argentina
government's easing of currency restrictions on the Company's
operations and overall business plan. Generally, forward-looking
statements can be identified by the forward-looking terminology
such as "plans", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "projects", "intends",
"anticipates", or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "can", "could", "would", "might", or
"will", "be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the exploration and development and operation of the
Company's projects, the actual results of current exploration,
development activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined,
future oil and gas prices, as well as those factors discussed in
the sections relating to risk factors of our business filed in the
Company's required securities filings on SEDAR. Although the
Company has attempted to identify important factors that could
cause results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed or intended.
There can be no assurance that any
forward-looking statements will prove accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company does not
undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with
applicable securities laws.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this news
release.
SOURCE Madalena Energy Inc.