• Our recent assessment was too pessimistic.
• Since then, production and prices are recovering and the company has become cash flow positive.
• We believe the company has a window to produce a virtuous cycle where cash flow from productive resources can fund much of the development of its promising unconventional resources.
• It’s the only small company exposed to Argentina’s vast shale resources.

Source: Madalena Energy Has A Window To Create A Virtuous Cycle – Madalena Energy Inc (OTCMKTS:MDLNF) | Seeking Alpha