MGM Energy Corp. (Toronto: MGX), reports the spudding of the East MacKay I-78 well targeting the Canol shale oil play in the Central Mackenzie Valley of the Northwest Territories.

The East MacKay I-78 well is a vertical well to be drilled to a depth of 2,050 meters and is expected to take three weeks to drill, core and log. Once drilling has reached target depth, the well will be completed in the Canol and Bluefish zones and flow tested. MGM Energy is the operator of the well and anticipates that ...