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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:3,390 Points:881,465 Joined:Aug 2008	Message Posted: Sep 16, 2012 2:07:22 PM Ignore listerone Report Abuse Drill here...drill now.
remay Champion Author Houston Posts:6,978 Points:2,120,315 Joined:May 2006	Message Posted: Sep 16, 2012 1:12:48 PM 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 6:20:40 PM Ignore repseng Report Abuse Ok
puinsai808 Champion Author Honolulu Posts:3,559 Points:730,230 Joined:May 2011	Message Posted: Sep 15, 2012 1:25:09 PM Ignore puinsai808 Report Abuse good
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Sep 15, 2012 10:24:56 AM Ignore Agarre Report Abuse OK
drpepperTX Champion Author Texas Posts:8,964 Points:755,135 Joined:Apr 2011	Message Posted: Sep 15, 2012 10:18:08 AM Ignore drpepperTX Report Abuse Good news, more jobs and domestic oil remains priced well below Brent.
A2J Champion Author Richmond Posts:3,090 Points:605,875 Joined:Aug 2011	Message Posted: Sep 15, 2012 8:07:00 AM Ignore A2J Report Abuse Good
58salty Champion Author Jacksonville Posts:6,662 Points:632,815 Joined:Aug 2011	Message Posted: Sep 15, 2012 8:04:14 AM Ignore 58salty Report Abuse Keep American oil in America!! Take care of US 1st.
mossimo36 Champion Author St. Louis Posts:2,689 Points:499,775 Joined:Sep 2011	Message Posted: Sep 15, 2012 7:54:29 AM Ignore mossimo36 Report Abuse Interesting. Hope it brings some much needed jobs and oil price relief.
skippypa Champion Author Hawaii Posts:8,491 Points:1,743,855 Joined:Jun 2008	Message Posted: Sep 15, 2012 7:01:24 AM Ignore skippypa Report Abuse ok
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Sep 15, 2012 6:41:54 AM Ignore gandalfthegrey1 Report Abuse Good! Hopefully it creates some jobs and brings revenue to the economy.
ReddevilNO Champion Author New Orleans Posts:3,386 Points:583,740 Joined:Aug 2011	Message Posted: Sep 15, 2012 6:41:45 AM Ignore ReddevilNO Report Abuse Ok.
wrunner Champion Author Virginia Posts:4,460 Points:1,139,510 Joined:Dec 2009	Message Posted: Sep 15, 2012 5:23:47 AM Ignore wrunner Report Abuse Great!
lgwhitlock Champion Author Chico Posts:7,400 Points:1,688,420 Joined:Jun 2008	Message Posted: Sep 15, 2012 4:13:03 AM Ignore lgwhitlock Report Abuse Nice to see oil companies investing in drilling here at home...
wegman Champion Author Twin Cities Posts:7,822 Points:2,091,475 Joined:Jun 2001	Message Posted: Sep 15, 2012 4:10:46 AM Ignore wegman Report Abuse A nice press release about a drilling company. WHO CARES????
jcurley Champion Author California Posts:7,908 Points:1,776,970 Joined:Dec 2007	Message Posted: Sep 15, 2012 4:05:21 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:9,494 Points:1,853,080 Joined:Jul 2007	Message Posted: Sep 15, 2012 3:57:24 AM Ignore ED6 Report Abuse More oil but prices are up.
computernut2008 Champion Author Ohio Posts:6,588 Points:1,353,290 Joined:Oct 2008	Message Posted: Sep 15, 2012 3:55:07 AM Ignore computernut2008 Report Abuse ok
Pozole Champion Author Portland Posts:9,614 Points:1,597,445 Joined:Mar 2005	Message Posted: Sep 15, 2012 3:54:34 AM Ignore Pozole Report Abuse ...yep, lots of jobs, roughnecks & trouble...
mrjames1818 Champion Author New Jersey Posts:1,560 Points:2,001,020 Joined:Mar 2004	Message Posted: Sep 15, 2012 3:54:23 AM Ignore mrjames1818 Report Abuse And this means what?
UseLessGasFolks Champion Author Iowa Posts:5,461 Points:1,298,775 Joined:Jul 2007	Message Posted: Sep 15, 2012 3:51:13 AM Ignore UseLessGasFolks Report Abuse Much better to drill here than in the ANWR.
Sam195 Champion Author San Bernardino Posts:8,105 Points:1,578,000 Joined:Oct 2008	Message Posted: Sep 15, 2012 3:48:03 AM Ignore Sam195 Report Abuse I hear there are lots of jobs up there.
monieet All-Star Author California Posts:964 Points:532,330 Joined:Mar 2011	Message Posted: Sep 15, 2012 3:44:44 AM Ignore monieet Report Abuse OK
runner74 Champion Author Washington Posts:2,720 Points:571,165 Joined:Jun 2011	Message Posted: Sep 15, 2012 3:37:49 AM Ignore runner74 Report Abuse ok
Gasazhunter Champion Author Phoenix Posts:4,220 Points:1,029,670 Joined:May 2010	Message Posted: Sep 15, 2012 3:37:16 AM Ignore Gasazhunter Report Abuse Sweet.
JagXKR Champion Author British Columbia Posts:3,169 Points:1,094,080 Joined:Dec 2009	Message Posted: Sep 15, 2012 3:34:06 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:107,840 Joined:Mar 2005	Message Posted: Sep 15, 2012 3:32:10 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:1,330 Points:319,240 Joined:Jun 2012	Message Posted: Sep 15, 2012 3:27:11 AM Ignore splitrman Report Abuse nice. Maybe more jobs at home.
leeso1 Champion Author San Diego Posts:7,626 Points:1,376,025 Joined:May 2009	Message Posted: Sep 15, 2012 3:24:01 AM Ignore leeso1 Report Abuse yawn
RNCII Champion Author Michigan Posts:2,487 Points:645,705 Joined:Jun 2011	Message Posted: Sep 15, 2012 3:22:49 AM Ignore RNCII Report Abuse Don't forget taxed, regulated, protested, and demonized.
HYEgasCA Champion Author Fresno Posts:2,111 Points:912,950 Joined:Dec 2008	Message Posted: Sep 15, 2012 3:18:06 AM Ignore HYEgasCA Report Abuse your right Samo!!
Samo1961 Champion Author Los Angeles Posts:1,910 Points:623,600 Joined:Feb 2011	Message Posted: Sep 15, 2012 3:14:17 AM Ignore Samo1961 Report Abuse Who cares!!!
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NavyEOD Champion Author Los Angeles Posts:10,021 Points:2,024,075 Joined:Jul 2007	Message Posted: Sep 15, 2012 3:09:14 AM Ignore NavyEOD Report Abuse Ok
WTLITNG Champion Author Virginia Posts:1,868 Points:1,018,035 Joined:Dec 2008	Message Posted: Sep 15, 2012 3:06:30 AM Ignore WTLITNG Report Abuse Finders keepers.
pa79th Champion Author Pennsylvania Posts:1,797 Points:1,219,775 Joined:Jun 2007	Message Posted: Sep 15, 2012 3:00:39 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 15, 2012 2:53:58 AM Ignore hubcapLA Report Abuse Doesn't seem like a lot of money.
vulcan96 Champion Author Ohio Posts:26,940 Points:3,106,600 Joined:Aug 2004	Message Posted: Sep 15, 2012 2:53:11 AM Ignore vulcan96 Report Abuse the feds need to be reigned in and cut down to size and all czars need to go bye , bye !!!
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mrselfdestruct Champion Author Arkansas Posts:1,014 Points:170,525 Joined:Aug 2011	Message Posted: Sep 15, 2012 2:42:24 AM Ignore mrselfdestruct Report Abuse Can I get a share too?
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