Mako Hydrocarbons Ltd. ("Mako") an Australian Stock Exchange listed, Canadian based junior oil and gas company operating in the Western Canadian Sedimentary Basin. The Company's primary interests are in the Duvernay formation (world class, liquids rich natural gas shale) and in the Rock Creek formation (light oil and liquids rich natural gas) in west central Alberta.
Mako's shares trade on the Australian Stock Exchange ("ASX") under the symbol MKE.
Technology is revitalizing the North American upstream oil and gas business. Evolving horizontal and multi-stage fracturing technology are generating new opportunities and increasing productivity from tight reservoir formations.
With large original oil in place on existing contiguous land parcels, Mako is well positioned for reserves and production growth in two emerging light oil and liquids rich natural gas plays.
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Rock Creek (41% W.I.)
Potential for higher deliverability and lower decline than Cardium, Viking or Bakken
- Light oil and liquids rich natural gas play in west central Alberta
- 61 net sections
- 20 initial horizontal locations identified
- Estimated recoverable reserves of 290 mboe/well
- NPV 10% = $2.6 million/well
- Recycle ratio of 1.8x
- Mako to pursue industry and financial joint venture arrangements to mitigate risk
Duvernay (37% W.I.)
Evolving fracturing technologies have unlocked new potential of this prolific liquids rich natural gas play
- World-class NGL rich, shale resource play
- 52 net sections in the liquids rich natural gas window of the play
- Average OGIP/section is 100 bcf
- NGLs of 100-200 bbls/mmcf
- NPV 10% = $8.8 million/well
- Recycle ratio of 3.0x
- Participated in drilling of its first vertical well with further activity planned in 2013
Dina (100% W.I.)
Low risk, predictable, appreciating asset, in the Provost area, providing cash flow and near-term production growth
- Conventional, low risk, heavy oil play in the Provost area of south-eastern Alberta
- Production approximately 100 bbl/d
- Infrastructure in place - battery and water disposal capabilities
- More than 15 Dina horizontal development drilling locations identified
- Dina reserves estimate of 6.2 mmbbl OOIP
- Estimated recoverable reserves of 34 mbbl/well
- NPV 10% = $0.7 million/well
- Recycle ratio of 3.2x
- Planned divestiture in Q2 2013 and redeploy capital