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Energy Summary for April 17, 2019 - Madalena Energy, ArgentinaEnergy Summary for April 17, 2019 -h/t Carswell 2019-04-17 20:36 ET - Market Summary by Stockwatch Business Reporter ...... Meanwhile, down in South America, Argentina-focused Madalena Energy Inc. (MVN) edged down half a cent to 14 cents on 10,000 shares, after appointing Alejandro Penafiel as vice-president of "growth and capital." Alejandro Penafiel is a director of Madalena and is the brother of Madalena's CEO, Jose Penafiel. The brothers came to Madalena in May, 2017, when their family-owned Hispania Petroleum agreed to lend Madalena up to $23-million (U.S.) for Argentine project development. Since then, one of their goals has been to secure another listing for the stock. They are having rather less luck than Valeura on that front. Valeura has more or less finished gaining a London listing roughly five months after floating the possibility. The Penafiels have been talking about listing Madalena on Argentina's MERVAL exchange for around two years. During a conference call last week, they acknowledged that the process is taking a long time, but said they expect to have an update on the timing of the listing "shortly." Presumably this will be one of the main priorities of Alejandro Penafiel in his expanded role as vice-president of growth and capital. [Emphasis added] |
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