(MENAFN- ProactiveInvestors)Argentina based oil and gas firm Madalena Energy (CVE:MVN OTCMKTS:MDLNF) today begins trading in New York with an OTC Market QX listing. The new listing gives better access to American investors and enables real-time Level 2 quotes via the OTC website. "In response to growing investor interest we have chosen to have Madalena's shares traded on the OTCQX enabling greater exposure and accessibility to our expanding U.S. and global shareholder base" said Kevin Shaw Madalena chief executive. "Madalena looks forward to broadening its shareholder base further through the OTCQX platform." Jason Paltrowitz OTC Markets executive vice-president meanwhile said: "We are pleased to welcome Madalena Energy to our family of established investor-focused OTCQX companies.' "OTCQX provides an efficient and transparent U.S. trading market for Canadian and other international companies that are looking to expand their visibility and shareholder base in the U.S. 'We look forward to supporting Madalena Energy's continued growth and prosperity." Madalena has a foothold in what it believed to be a sweet-spot within Argentina's Vaca Muerta shale one of the largest and most significant shale plays outside the United States. The company which also has a portfolio of other assets in the South American country was this week boosted by Argentina's election of new president Mauricio Macri. Macri who is described as pro-business is expected to scrap certain capital controls in order to promote foreign investment and has also pledged to negotiate with the country's bondholders. Mackie Research Capital in a note yesterday said: 'Macri supports changes that will promote foreign investment into the energy sector in order to reduce Argentina's energy deficit and eventually lead to energy independence. 'We believe these policies could attract investors that avoided Argentina during the Kirchner government.' Significantly for Madalena and its peers the new president is expected to provide support to the country's oil and gas sector - which is host to one of the most significant shale resources outside the United States. Newman added: 'The resource potential from Argentina's emerging unconventional plays is large enough to attract new investment from major and supermajor oil and gas companies. 'With the potential for increased competition companies with established land positions could look more attractive.'
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