Sedalia Re-Entry Logs 1 Mmcf/d Flow Rate, Says Magnum

Magnum Energy Inc. reported that operations at the previously announced 100% working interest Sedalia well re-entry have been concluded. Upon re-entry and re-completion of the target zone, a flow test was performed which indicated an initial flow rate of one million cubic feet a day.

The well has now been shut in and the Company is preparing to equip and tie-in the well for production. The Company anticipates being able to re-activate the currently abandoned pipeline to the well and therefore expects production to commence within the next month.

The Company is in the process of preparing the necessary surface and regulatory applications to re-enter a second well location on an adjacent 100% working interest section.