MGM Energy Corp MGMCF

Well is spud

[zibo]

MGM Energy Corp. Announces Spudding of Canol Shale Oil Well

MGM Energy Corp. MGX

1/28/2013 8:00:19 AM

MGM Energy Corp. Announces Spudding of Canol Shale Oil Well

CALGARY, ALBERTA--(Marketwire - Jan. 28, 2013) - MGM Energy Corp. ("MGM Energy" or the "Company") (TSX:MGX), announces the spudding of the East MacKay I-78 well on Exploration License 466B in the Central Mackenzie Valley of the Northwest Territories on January 27, 2013. The Company is targeting the Canol shale oil play with this well.

The East MacKay I-78 well is a vertical well to be drilled to a depth of approximately 2,050 metres and is expected to take approximately three weeks to drill, core and log. Once drilling has reached target depth, the well will be completed in the Canol and Bluefish zones and flow tested. MGM Energy is the operator of the well and anticipates that operations will be completed by the second week of March.

MGM Energy will provide updates following completion of the drilling and testing phases of the well.

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 or by contacting Henry Sykes or Rick Miller

[shambano1]

MGM Energy will provide updates following completion of the drilling and testing phases of the well. Read more at https://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=32084236&l=0&r=0&s=MGX&t=LIST#iJu1BR6AkGGscT0z.99updates= equlas to 2 announcements, so we can expect the first enws release when they reach TD and maybe we'll get some information on the zones,

[SigmaKappa]

Now the fun begins.

[zibo]

MGM say's they"ll core, log & test the well, but don't mention fracing the well, does anybody know if they decided not to frac the well or just didn't mention it?.

[SigmaKappa]

In the NR is says complete in the canol and BF zones and flow tested. To me completing means they are fraccing these 2 zones.

[OilEng]

There will be three oil based fracs.  One into the Bluefish and two into the Canol  Why two?  Because the Canol is so thick.   They will test 5 days for the Bluefish and then 5 days for the Canol.  The frac fluid is going to have Nitrogen added (it is called energizing the frac fluid) so that the frac fluid will flow back more quickly and they can get the Bluefish and

[zibo]

Thanks OilEng.

[glacierman]

Wow it pays to be a MAJOR shareholder!!     You get the Royal treatment.    I probably couldn't get past the secretary!!     Keep the great info flowing Oileng. 

[pipsqueak3]

If well 1 provides positive results, is there a ideal date to begin drilling the 2nd earning well if they take the option? This would be press material.