Magnum Wraps Up 3 Well Drilling Program in Sedalia

Magnum has announced the conclusion of a successful 3 well drilling program in the Company's Sedalia properties, with all wells being cased. The Company is currently reviewing the drilling logs and will undertake completion operations in the coming weeks.

The Company has also been licensed to re-enter two abandoned wells in the same area. The Company intends to re-enter these wells and evaluate them in the near future. Magnum holds a 100% working interest and is the operator of the properties where this project is being carried out.

In addition, work is progressing to complete testing and obtaining regulatory approval from the ERCB (Energy Resources Conservation Board) to re-activate the gathering system. Once this process has been completed the Company intends to tie-in all completed wells to the gathering system.