Madalena Announces Appointment of Permanent Chief Financial Officer

CALGARY, Alberta, June 28, 2017 /PRNewswire/ --

Madalena Energy Inc. ("Madalena" or the "Company") (TSXV: MVN and OTCQX: MDLNF) is pleased to announce the appointment of Mr. Ezequiel Martinez Ariet as permanent Chief Financial Officer of the Company, effective as of July 1, 2017. Mr. Martinez replaces Madalena Director Alejandro Augusto Penafiel, who assumed an Interim CFO role on May 31, 2017, following the transfer of executive management functions from Canada to Argentina. The Madalena board of directors would like to thank Mr. Alejandro Augusto Penafiel for his diligent work and assistance in facilitating the transition between management regimes.

Mr. Martinez, who will leave his position as Administrative and Financial Manager at AESA in Argentina, will bring 15 years of financial, strategic and operational experience to Madalena. He will be based in Buenos Aires and will report directly to Madalena Chief Executive Officer, Jose David Penafiel. Mr. Penafiel commented, "Having had the privilege of working with Mr. Martinez on projects in the past, I am fully confident that his knowledge, expertise and experience will greatly enhance the management team at Madalena and offer invaluable leadership, both during this current period of reorganization and beyond. His precise insight into the E&P market in Argentina makes him the perfect candidate for the position of CFO of Madalena."

An Accountancy graduate from Salvador University with post-graduate diplomas from the Professional Council of Economic Sciences CABA (IFRS and ISAs), the IAE Business School (Business Management) and the Catholic University of Argentina (Finance), Mr. Martinez combines vast proficiency in Accounting, Administration, Tax and Finance with abundant experience in the geographical region. After acting as Head of Accounting at Argentinian energy giant YPF, he moved on to the position of CFO at Petrolera San Jose before leading the financial team as Administrative and Financial Manager at AESA - a subsidiary of YPF - with some 5,000 employees and a net income of around $460 million (USD).

About Madalena Energy
Madalena is an independent, Canadian upstream oil and gas company with operations in four provinces of Argentina where it is primarily focused on the delineation of unconventional oil and gas resources. The Company is implementing horizontal drilling and completions technology to develop both its conventional and resource plays.