MGM Energy Corp. Announces Completion of Drilling of Canol Shale Oil Well and Commencement of Testing Phase
CALGARY, ALBERTA--(Marketwire - Feb. 25, 2013) - MGM Energy Corp. ("MGM Energy" or the "Company") (TSX:MGX), announces that the East MacKay I-78 well has been drilled, cored and logged and is anticipated to be rig released on February 25, 2013. The vertical well reached a total depth of 2,000 metres.
The vertical well has now entered the testing phase, during which the Company will frac and flow test both the Canol and Bluefish zones. MGM Energy is the operator of the well. Operations are anticipated to be completed by the second week of March.
MGM Energy is a Canadian oil and natural gas exploration and development company active in Northern Canada. MGM Energy's common shares are listed on the TSX under the symbol "MGX".
Further information relating to MGM Energy may be found on www.sedar.com as well as on MGM Energy's website at www.mgmenergy.com.