Participating in 12 New US Onshore Wells

Magnolia Petroleum Plc, the AIM quoted US focused oil and gas exploration and production company, is pleased to announce its participation in 12 new wells in proven and producing US onshore hydrocarbon formations, including the Bakken/Three Forks Sanish in North Dakota, and the Woodford, Mississippi Lime in Oklahoma.  The 12 new wells, which have an aggregate net cost of US$270,300, are in line with the Company’s strategy to rapidly build production through drilling and to prove up the reserves on its leases.

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