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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:3,490 Points:904,490 Joined:Aug 2008	Message Posted: Sep 16, 2012 1:07:22 PM Ignore listerone Report Abuse Drill here...drill now.
remay Champion Author Houston Posts:7,078 Points:2,143,965 Joined:May 2006	Message Posted: Sep 16, 2012 12:12:48 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 5:20:40 PM Ignore repseng Report Abuse Ok
puinsai808 Champion Author Honolulu Posts:3,703 Points:755,005 Joined:May 2011	Message Posted: Sep 15, 2012 12:25:09 PM Ignore puinsai808 Report Abuse good
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Sep 15, 2012 9:24:56 AM Ignore Agarre Report Abuse OK
drpepperTX Champion Author Texas Posts:9,164 Points:779,850 Joined:Apr 2011	Message Posted: Sep 15, 2012 9:18:08 AM Ignore drpepperTX Report Abuse Good news, more jobs and domestic oil remains priced well below Brent.
A2J Champion Author Richmond Posts:3,210 Points:629,675 Joined:Aug 2011	Message Posted: Sep 15, 2012 7:07:00 AM Ignore A2J Report Abuse Good
58salty Champion Author Jacksonville Posts:6,831 Points:657,590 Joined:Aug 2011	Message Posted: Sep 15, 2012 7:04:14 AM Ignore 58salty Report Abuse Keep American oil in America!! Take care of US 1st.
mossimo36 Champion Author St. Louis Posts:2,834 Points:524,550 Joined:Sep 2011	Message Posted: Sep 15, 2012 6:54:29 AM Ignore mossimo36 Report Abuse Interesting. Hope it brings some much needed jobs and oil price relief.
skippypa Champion Author Hawaii Posts:8,616 Points:1,768,630 Joined:Jun 2008	Message Posted: Sep 15, 2012 6:01:24 AM Ignore skippypa Report Abuse ok
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Sep 15, 2012 5:41:54 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 5:41:45 AM Ignore ReddevilNO Report Abuse Ok.
wrunner Champion Author Virginia Posts:4,582 Points:1,164,060 Joined:Dec 2009	Message Posted: Sep 15, 2012 4:23:47 AM Ignore wrunner Report Abuse Great!
lgwhitlock Champion Author Chico Posts:7,525 Points:1,713,195 Joined:Jun 2008	Message Posted: Sep 15, 2012 3:13:03 AM Ignore lgwhitlock Report Abuse Nice to see oil companies investing in drilling here at home...
wegman Champion Author Twin Cities Posts:7,941 Points:2,116,130 Joined:Jun 2001	Message Posted: Sep 15, 2012 3:10:46 AM Ignore wegman Report Abuse A nice press release about a drilling company. WHO CARES????
jcurley Champion Author California Posts:8,018 Points:1,801,520 Joined:Dec 2007	Message Posted: Sep 15, 2012 3:05:21 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:9,594 Points:1,872,940 Joined:Jul 2007	Message Posted: Sep 15, 2012 2:57:24 AM Ignore ED6 Report Abuse More oil but prices are up.
computernut2008 Champion Author Ohio Posts:6,714 Points:1,377,315 Joined:Oct 2008	Message Posted: Sep 15, 2012 2:55:07 AM Ignore computernut2008 Report Abuse ok
Pozole Champion Author Portland Posts:9,766 Points:1,622,220 Joined:Mar 2005	Message Posted: Sep 15, 2012 2:54:34 AM Ignore Pozole Report Abuse ...yep, lots of jobs, roughnecks & trouble...
mrjames1818 Champion Author New Jersey Posts:1,686 Points:2,025,795 Joined:Mar 2004	Message Posted: Sep 15, 2012 2:54:23 AM Ignore mrjames1818 Report Abuse And this means what?
UseLessGasFolks Champion Author Iowa Posts:5,586 Points:1,323,550 Joined:Jul 2007	Message Posted: Sep 15, 2012 2:51:13 AM Ignore UseLessGasFolks Report Abuse Much better to drill here than in the ANWR.
Sam195 Champion Author San Bernardino Posts:8,230 Points:1,602,775 Joined:Oct 2008	Message Posted: Sep 15, 2012 2:48:03 AM Ignore Sam195 Report Abuse I hear there are lots of jobs up there.
monieet All-Star Author California Posts:984 Points:552,160 Joined:Mar 2011	Message Posted: Sep 15, 2012 2:44:44 AM Ignore monieet Report Abuse OK
runner74 Champion Author Washington Posts:2,846 Points:595,940 Joined:Jun 2011	Message Posted: Sep 15, 2012 2:37:49 AM Ignore runner74 Report Abuse ok
Gasazhunter Champion Author Phoenix Posts:4,351 Points:1,055,420 Joined:May 2010	Message Posted: Sep 15, 2012 2:37:16 AM Ignore Gasazhunter Report Abuse Sweet.
JagXKR Champion Author British Columbia Posts:3,293 Points:1,118,665 Joined:Dec 2009	Message Posted: Sep 15, 2012 2:34:06 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 2:32:10 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:1,450 Points:342,920 Joined:Jun 2012	Message Posted: Sep 15, 2012 2:27:11 AM Ignore splitrman Report Abuse nice. Maybe more jobs at home.
leeso1 Champion Author San Diego Posts:7,748 Points:1,400,720 Joined:May 2009	Message Posted: Sep 15, 2012 2:24:01 AM Ignore leeso1 Report Abuse yawn
RNCII Champion Author Michigan Posts:2,612 Points:670,035 Joined:Jun 2011	Message Posted: Sep 15, 2012 2:22:49 AM Ignore RNCII Report Abuse Don't forget taxed, regulated, protested, and demonized.
HYEgasCA Champion Author Fresno Posts:2,126 Points:934,850 Joined:Dec 2008	Message Posted: Sep 15, 2012 2:18:06 AM Ignore HYEgasCA Report Abuse your right Samo!!
Samo1961 Champion Author Los Angeles Posts:2,035 Points:648,375 Joined:Feb 2011	Message Posted: Sep 15, 2012 2:14:17 AM Ignore Samo1961 Report Abuse Who cares!!!
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NavyEOD Champion Author Los Angeles Posts:10,146 Points:2,048,850 Joined:Jul 2007	Message Posted: Sep 15, 2012 2:09:14 AM Ignore NavyEOD Report Abuse Ok
WTLITNG Champion Author Virginia Posts:1,977 Points:1,042,365 Joined:Dec 2008	Message Posted: Sep 15, 2012 2:06:30 AM Ignore WTLITNG Report Abuse Finders keepers.
pa79th Champion Author Pennsylvania Posts:1,922 Points:1,243,800 Joined:Jun 2007	Message Posted: Sep 15, 2012 2:00:39 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 1:53:58 AM Ignore hubcapLA Report Abuse Doesn't seem like a lot of money.
vulcan96 Champion Author Ohio Posts:27,145 Points:3,126,955 Joined:Aug 2004	Message Posted: Sep 15, 2012 1:53:11 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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