MAKO ENERGY LTD - ASX: MKE

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Description

Mako Energy Limited (ASX |MKE) is an Australia based company whose headquarters are located in Calgary, Alberta, Canada with operations entirely focused within the prolific Western Canadian Sedimentary Basin. Mako is one of only a few Australian listed companies who are benefitting from the application of horizontal drilling and multiple stage fracturing technologies that are improving economic margins in existing plays and enabling significant new hydrocarbon plays in North America.

Mako owns and operates a 50% working interest in approximately 80,000 acres of light oil and liquids rich natural gas bearing terrain. The area spans across West-central Alberta from Niton to Rimbey including Willesdon Green and Pembina and is prospective in multiple horizons.

Mako’s land acquisitions over the past 12 months include rights to at least two formations, one of which has the potential to be a world class horizontally-accessed resource play. The other formation, typified by low productivity vertical wells, is an ideal candidate for horizontal drilling exploitation.

Mako’s land holdings consist of contiguous blocks purchased in strategic areas which have seen both Canadian and US oil companies aggressively acquiring adjacent rights. Acquisitions have included a one day record bid of $749 million for rights proximal to Mako’s area. Additionally individual parcels are selling for up to $3.5 million per section, in comparison Mako’s average cost per section is $26,000.

Mine For

oil, gas

Location of operation(s)

Canada

Address

Level 1, 681 Murray Street
WEST PERTH, WA, Australia

Phone

+61 (0) 413 777 286

Email

Website

http://www.globesecurities.com.au/

Last Updated

23/08/2011