TSXV: MVN    
OTCQX: MDLNF    

Jose David Penafiel: President & Chief Executive Officer

Mr. Penafiel previously managed Hispania Petroleum and its predecessor for 10 years. He has held positions as director of Permtotineft, Hispania's joint venture with Lukoil, and CEO of the Hispania group. He has also managed gasoline and diesel distribution operations in Ecuador and Guatemala for the Hispania group. He led the efforts to consolidate the group's Argentine and Russian upstream assets in Hispania. Mr. Penafiel headed Hispania's Argentine operations out of Buenos Aires for 7 years as General Manager. Mr. Penafiel is a graduate of the University of Oxford where he studied Politics, Philosophy and Economics (PPE).

Thomas Love: Vice President Finance and Chief Financial Officer

Mr. Love is a Chartered Accountant with 36 years of experience in the oil and gas industry. Prior to being the Chief Financial Officer and a Director of Online Energy Inc., Mr. Love was the Chairman and Chief Financial Officer of Trimox Energy Inc. and Moxie Exploration Ltd. and President and Chief Executive Officer of Moxie Petroleum Ltd. Prior thereto, Mr. Love was Vice-President, Finance, Chief Financial Officer and Director of Westward Energy Ltd. Mr. Love articled with Clarkson, Gordon & Co. (now Ernst & Young).

Ruy Riavitz: Country Manager, Argentina

Mr. Riavitz is a Chemical Engineer with over 16 years of experience, both technical and managerial, in the oil industry in Argentina. He started his career with YPF as a reservoir engineer. Subsequently, he joined PA Consulting Group evaluating energy assets in the US and South America. He then worked at HIDENESA, Neuquen's state-owned oil company and the predecessor to G&P, forming the first joint ventures to explore in the province. Mr. Riavitz joined Madalena Austral in 2009 as Operations Manager and become the Country Manager in January 2012.