Last updated on April 17, 2014 at 9:33 EDT

Madalena Announces Name Change

August 2, 2013

TSXV Trading Symbol: MVN

CALGARY, Aug. 2, 2013 /PRNewswire/ – Madalena Energy Inc. (formerly Madalena
Ventures Inc.) (TSXV: MVN) (“Madalena” or the “Company“) announces that it has changed its name to “Madalena Energy Inc.”  The
name change was approved by the shareholders of the Company at the
annual and special meeting of the Company held on July 30, 2013 and by
the TSX Venture Exchange (“TSXV”) on July 31, 2013. Effective at the
opening of markets on August 2, 2013, the common shares of Madalena
will commence trading on the TSXV under its new name. Madalena will
continue to trade under the symbol “MVN”.

About Madalena – International and Domestic Assets

Madalena is an independent, Canadian-based, international and domestic
upstream oil and gas company whose main business activities include
exploration, development and production of crude oil, natural gas
liquids and natural gas.

Internationally, Madalena holds three large blocks within the prolific
Neuquén basin in Argentina where it is focused on the delineation of
vast shale and unconventional resources in the Vaca Muerta, Lower Agrio
and Los Molles shales, in addition to tight sand plays in the
Mulichinco and Quintuco. The Company is also developing a conventional
oil play in the Sierras Blancas formation. Madalena holds 135,000 net
acres on the Coiron Amargo, Curamhuele and Cortadera blocks.

Domestically, Madalena’s core area of operations is located in the
Greater Paddle River area of west-central Alberta where the Company
holds approximately 200 gross (>150 net) sections of land (78% average
W.I.) encompassing light oil and liquids-rich gas resource plays.
Madalena’s domestic focus is to exploit its large inventory of
horizontal development locations on its Ostracod oil, Notikewin/Wilrich
liquids-rich gas, and emerging Nordegg oil & liquids-rich gas resource
plays. Madalena also holds more than 100 net sections (100% W.I.) which
are prospective for the Duvernay shale.

Madalena trades on the TSX Venture Exchange under the symbol MVN. Basic
corporate information, recent news releases and regularly updated
corporate presentations are available on the Company’s website at www.madalenaenergy.com.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

SOURCE Madalena Ventures Inc.

Source: PR Newswire