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Magnolia Petroleum Participates in Bakken Well, North Dakota

Dow Jones Newswires --
Magnolia Petroleum PLC (MAGP.LN) a U.S. oil and gas exploration and production company focused on proven U.S. onshore hydrocarbon formations, Friday announced its participation in a further well targeting the prolific Bakken Formation, North Dakota.

MAIN FACTS:

-The Nicky Kerr 14-8 horizontal well is targeting the Bakken Formation, North Dakota, and is operated by Marathon Oil (MRO), a U.S. energy company.

-Total drill costs are estimated at $8.53 million with the company's 1.955692% working interest in the well estimated at $166,837; Magnolia's net revenue interest is 1.46677%.

-Magnolia participates in 83 producing properties, a further nine are currently being drilled/ completed and, following Friday's announcement, another twelve waiting to spud.

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Submitted Sep 15, 2012 By: RENEGADEGAS

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listerone Champion Author Boston Posts:3,488 Points:903,600 Joined:Aug 2008	Message Posted: Sep 16, 2012 11:07:22 AM Ignore listerone Report Abuse Drill here...drill now.
remay Champion Author Houston Posts:7,078 Points:2,143,215 Joined:May 2006	Message Posted: Sep 16, 2012 10:12:48 AM Ignore remay Report Abuse Nuthin like free PR for the stock...
repseng Sophomore Author Twin Cities Posts:165 Points:14,940 Joined:Sep 2012	Message Posted: Sep 15, 2012 3:20:40 PM Ignore repseng Report Abuse Ok
puinsai808 Champion Author Honolulu Posts:3,697 Points:754,030 Joined:May 2011	Message Posted: Sep 15, 2012 10:25:09 AM Ignore puinsai808 Report Abuse good
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Sep 15, 2012 7:24:56 AM Ignore Agarre Report Abuse OK
drpepperTX Champion Author Texas Posts:9,159 Points:778,875 Joined:Apr 2011	Message Posted: Sep 15, 2012 7:18:08 AM Ignore drpepperTX Report Abuse Good news, more jobs and domestic oil remains priced well below Brent.
A2J Champion Author Richmond Posts:3,205 Points:628,700 Joined:Aug 2011	Message Posted: Sep 15, 2012 5:07:00 AM Ignore A2J Report Abuse Good
58salty Champion Author Jacksonville Posts:6,826 Points:656,615 Joined:Aug 2011	Message Posted: Sep 15, 2012 5:04:14 AM Ignore 58salty Report Abuse Keep American oil in America!! Take care of US 1st.
mossimo36 Champion Author St. Louis Posts:2,829 Points:523,575 Joined:Sep 2011	Message Posted: Sep 15, 2012 4:54:29 AM Ignore mossimo36 Report Abuse Interesting. Hope it brings some much needed jobs and oil price relief.
skippypa Champion Author Hawaii Posts:8,611 Points:1,767,655 Joined:Jun 2008	Message Posted: Sep 15, 2012 4:01:24 AM Ignore skippypa Report Abuse ok
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Sep 15, 2012 3:41:54 AM Ignore gandalfthegrey1 Report Abuse Good! Hopefully it creates some jobs and brings revenue to the economy.
ReddevilNO Champion Author New Orleans Posts:3,481 Points:600,090 Joined:Aug 2011	Message Posted: Sep 15, 2012 3:41:45 AM Ignore ReddevilNO Report Abuse Ok.
wrunner Champion Author Virginia Posts:4,582 Points:1,163,310 Joined:Dec 2009	Message Posted: Sep 15, 2012 2:23:47 AM Ignore wrunner Report Abuse Great!
lgwhitlock Champion Author Chico Posts:7,520 Points:1,712,220 Joined:Jun 2008	Message Posted: Sep 15, 2012 1:13:03 AM Ignore lgwhitlock Report Abuse Nice to see oil companies investing in drilling here at home...
wegman Champion Author Twin Cities Posts:7,936 Points:2,115,155 Joined:Jun 2001	Message Posted: Sep 15, 2012 1:10:46 AM Ignore wegman Report Abuse A nice press release about a drilling company. WHO CARES????
jcurley Champion Author California Posts:8,013 Points:1,800,545 Joined:Dec 2007	Message Posted: Sep 15, 2012 1:05:21 AM Ignore jcurley Report Abuse Will that oil stay here in America? Probably not. It's worth more on the global market (see Brent crude versus WTI crude pricing).
ED6 Champion Author Riverside Posts:9,589 Points:1,871,965 Joined:Jul 2007	Message Posted: Sep 15, 2012 12:57:24 AM Ignore ED6 Report Abuse More oil but prices are up.
computernut2008 Champion Author Ohio Posts:6,709 Points:1,376,340 Joined:Oct 2008	Message Posted: Sep 15, 2012 12:55:07 AM Ignore computernut2008 Report Abuse ok
Pozole Champion Author Portland Posts:9,760 Points:1,621,245 Joined:Mar 2005	Message Posted: Sep 15, 2012 12:54:34 AM Ignore Pozole Report Abuse ...yep, lots of jobs, roughnecks & trouble...
mrjames1818 Champion Author New Jersey Posts:1,681 Points:2,024,820 Joined:Mar 2004	Message Posted: Sep 15, 2012 12:54:23 AM Ignore mrjames1818 Report Abuse And this means what?
UseLessGasFolks Champion Author Iowa Posts:5,581 Points:1,322,575 Joined:Jul 2007	Message Posted: Sep 15, 2012 12:51:13 AM Ignore UseLessGasFolks Report Abuse Much better to drill here than in the ANWR.
Sam195 Champion Author San Bernardino Posts:8,225 Points:1,601,800 Joined:Oct 2008	Message Posted: Sep 15, 2012 12:48:03 AM Ignore Sam195 Report Abuse I hear there are lots of jobs up there.
monieet All-Star Author California Posts:978 Points:551,085 Joined:Mar 2011	Message Posted: Sep 15, 2012 12:44:44 AM Ignore monieet Report Abuse OK
runner74 Champion Author Washington Posts:2,841 Points:594,965 Joined:Jun 2011	Message Posted: Sep 15, 2012 12:37:49 AM Ignore runner74 Report Abuse ok
Gasazhunter Champion Author Phoenix Posts:4,346 Points:1,054,445 Joined:May 2010	Message Posted: Sep 15, 2012 12:37:16 AM Ignore Gasazhunter Report Abuse Sweet.
JagXKR Champion Author British Columbia Posts:3,289 Points:1,117,835 Joined:Dec 2009	Message Posted: Sep 15, 2012 12:34:06 AM Ignore JagXKR Report Abuse Sure sounds like people are working which is helping the economic recovery, not like the $Billions wasted on solar (and other "green") companies that went bankrupt.
jimpeel Veteran Author Colorado Posts:462 Points:109,940 Joined:Mar 2005	Message Posted: Sep 15, 2012 12:32:10 AM Ignore jimpeel Report Abuse Jobs are created by the private sector. All the government can do is to kill jobs.
splitrman Champion Author Victoria Posts:1,440 Points:341,760 Joined:Jun 2012	Message Posted: Sep 15, 2012 12:27:11 AM Ignore splitrman Report Abuse nice. Maybe more jobs at home.
leeso1 Champion Author San Diego Posts:7,743 Points:1,399,745 Joined:May 2009	Message Posted: Sep 15, 2012 12:24:01 AM Ignore leeso1 Report Abuse yawn
RNCII Champion Author Michigan Posts:2,608 Points:669,080 Joined:Jun 2011	Message Posted: Sep 15, 2012 12:22:49 AM Ignore RNCII Report Abuse Don't forget taxed, regulated, protested, and demonized.
HYEgasCA Champion Author Fresno Posts:2,126 Points:933,850 Joined:Dec 2008	Message Posted: Sep 15, 2012 12:18:06 AM Ignore HYEgasCA Report Abuse your right Samo!!
Samo1961 Champion Author Los Angeles Posts:2,030 Points:647,400 Joined:Feb 2011	Message Posted: Sep 15, 2012 12:14:17 AM Ignore Samo1961 Report Abuse Who cares!!!
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NavyEOD Champion Author Los Angeles Posts:10,141 Points:2,047,875 Joined:Jul 2007	Message Posted: Sep 15, 2012 12:09:14 AM Ignore NavyEOD Report Abuse Ok
WTLITNG Champion Author Virginia Posts:1,972 Points:1,041,390 Joined:Dec 2008	Message Posted: Sep 15, 2012 12:06:30 AM Ignore WTLITNG Report Abuse Finders keepers.
pa79th Champion Author Pennsylvania Posts:1,922 Points:1,243,050 Joined:Jun 2007	Message Posted: Sep 15, 2012 12:00:39 AM Ignore pa79th Report Abuse Us Company drilling a US well. Gotta love it. Of course, O will claim the government built it.
hubcapLA Champion Author Louisiana Posts:3,905 Points:940,435 Joined:Apr 2009	Message Posted: Sep 14, 2012 11:53:58 PM Ignore hubcapLA Report Abuse Doesn't seem like a lot of money.
vulcan96 Champion Author Ohio Posts:27,142 Points:3,126,845 Joined:Aug 2004	Message Posted: Sep 14, 2012 11:53:11 PM Ignore vulcan96 Report Abuse the feds need to be reigned in and cut down to size and all czars need to go bye , bye !!!
TheeRedRam Champion Author Hartford Posts:3,298 Points:699,360 Joined:Jun 2011	Message Posted: Sep 14, 2012 11:45:47 PM Ignore TheeRedRam Report Abuse Hummmm
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mrselfdestruct Champion Author Arkansas Posts:1,082 Points:184,635 Joined:Aug 2011	Message Posted: Sep 14, 2012 11:42:24 PM Ignore mrselfdestruct Report Abuse Can I get a share too?
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afghaned Champion Author Hamilton Posts:11,978 Points:1,312,860 Joined:May 2004	Message Posted: Sep 14, 2012 11:28:51 PM Ignore afghaned Report Abuse It' a big pie!!!
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