Nov 27 (Reuters) - Madalena Energy Inc MVN.V :
* MADALENA ANNOUNCES OPERATION AGREEMENT ON THE PALMAR LARGO CONCESSION WITH THE PROVINCE OF FORMOSA
* MADALENA ENERGY - MADALENA WILL RECEIVE 82.68% OF PRODUCTION REVENUES UNDER AGREEMENT AND WILL BE RESPONSIBLE FOR OPERATION COSTS OF FIELD
* MADALENA ENERGY - 2 YEAR OPERATION AGREEMENT WITH A 1 YEAR EXTENSION PROVIDED THAT MADALENA FULFILLS ITS US$2M INVESTMENT COMMITMENT