Madalena Ventures (MVN-V)
www.madalena-ventures.com
314 million o/s
$59 million cash (as of Sept, 2012)
No debt
Madalena is an independent, Canadian-based domestic and international upstream oil and gas company whose main business activities include exploration, development and production of crude oil, natural gas liquids and natural gas. Madalena's strategy is to create value and provide superior returns to our shareholders through the generation of a balanced portfolio of high quality oil and gas assets in proven hydrocarbon areas characterized by competitive fiscal terms and significant development potential.
Key people:
Kevin Shaw, PEng, MBA, president and chief executive officer of the company, effective immediately. Mr. Shaw will also be joining the company's board of directors. Mr. Warkentin will move to the position of vice-chairman of the company's board of directors and vice-president, international, where his international expertise will continue to be invaluable. Mr. Shaw holds significant oil and gas industry experience as an engineer, manager and officer, working for both large- and small-cap E&Ps, as well as extensive experience in the capital markets and consulting services sides of the energy sector. Prior to joining Madalena, Mr. Shaw most recently headed up the energy team at Casimir Capital and held the position of managing director and head of global energy research, responsible for coverage and/or advisement on over 30 domestic and international E&P companies. Prior to Casimir, Mr. Shaw worked with Wellington West Capital Markets as a senior oil and gas research analyst and partner, and was a key member of Wellington West's successful energy business prior to Wellington's sale to National Bank of Canada in the summer of 2011. Prior to holding executive positions within the capital markets, Mr. Shaw has also held oil and gas positions, heading up large operational and engineering consultant teams for major E&Ps as an alliance manager for Colt WorleyParsons, was a vice-president, operations, for a public junior E&P (Trimox Energy Inc.), and has held various technical and managerial roles with ExxonMobil (through Imperial Oil). Mr. Shaw is a professional engineer and holds a BSc in mechanical and petroleum engineering from the University of Calgary and an MBA from the Haskayne School of Business.
As president and chief executive officer of Madalena, Mr. Shaw will be working closely with the company's board of directors and management team to integrate and ramp production and cash flow associated with its Canadian oil and gas properties acquired in early November while working to unlock value in the company's international assets. He will also be responsible for the review of all financing and business development alternatives for the company, with a view to creating long-term shareholder value.
"Mr. Shaw brings extensive oil and gas and capital markets experience, both in the domestic and international marketplace," said Madalena chairman, Ray Smith. "We are delighted to welcome him to our board and executive team."
Madalena is also pleased to announce the following additions to the management team:
Steve Dabner, PGeol, vice-president, exploration
Mr. Dabner has over 27 years of experience in the oil and gas industry. Prior to co-founding Online Energy Inc. in 2009, Mr. Dabner was president and chief executive officer of Trimox Energy Inc. and Moxie Exploration Ltd. and vice-president, exploration, and chief financial officer of Moxie Petroleum Ltd. Prior thereto, he held positions of increasing responsibility with Cimarron Petroleum Ltd. and Home Oil Company Ltd.
Brent Foster, PEng, vice-president, engineering
Mr. Foster is a registered professional engineer, with 30 years of experience in exploitation and development of oil and gas pools in the Western Canadian sedimentary basin and the Cooper basin in South Australia. Prior to being the VP, engineering, at Online Energy, Mr. Foster was previously the vice-president, engineering, and chief operating officer, Blue Mountain Energy Ltd., and vice-president, engineering, Hadrian Energy Corp. Mr. Foster started his career with Rigel Oil and Gas Ltd. and Home Oil Company.
Robert Stanton, PEng, vice-president, operations
Mr. Stanton is a professional engineer, who has acquired over 27 years of well-rounded engineering and operational experience. Previously, Mr. Stanton was vice-president, operations, at Online Energy. Prior thereto, Mr. Stanton worked for a number of energy companies, including Oiltec Resources Ltd., Pinnacle Resources Ltd., Jordan Petroleum Ltd., Transwest Energy Inc., Triton Canada Resources Ltd., Canadian Worldwide Energy Ltd., Petro-Canada Inc. and Result Energy Inc.
John Wittnebel, PGeol, manager, geology
Mr. Wittnebel is a registered professional geologist with over 33 years of experience in the oil and gas industry. Prior to being the exploration manager at Online Energy, Mr. Wittnebel was vice-president, exploration, at Result Energy and throughout his career has held positions of increasing responsibility with Chevron Canada Resources, Renaissance Energy/Husky Energy and Encal Energy/Calpine Canada. Mr. Wittnebel has wide-ranging Canadian and international exploration and development expertise involving, among other things, horizontal drilling of conventional and unconventional reservoirs.
Company presentation June, 2012
madalena-ventures.com |
