Madalena Energy Inc. announced the appointment of Mr. Ezequiel Martinez Ariet as permanent Chief Financial Officer of the Company, effective as of July 1, 2017. Mr. Martinez replaces Madalena Director Alejandro Augusto Penafiel, who assumed an Interim CFO role on May 31, 2017, following the transfer of executive management functions from Canada to Argentina. The Madalena board of directors would like to thank Mr. Alejandro Augusto Penafiel for his diligent work and assistance in facilitating the transition between management regimes. Mr. Martinez, who will leave his position as Administrative and Financial Manager at AESA in Argentina, will bring 15 years of financial, strategic and operational experience to Madalena. He will be based in Buenos Aires and will report directly to Madalena Chief Executive Officer, Jose David Penafiel.