Mako Energy

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 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 90,000 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.

Canadian Resource Focus

Mako is a 50% working interest owner and the joint venture operator of 123.3 sections (~31,500 hectares or ~80,000 acres) of hydrocarbon bearing land in west central Alberta, Canada.

Several prospective hydrocarbon bearing rock formations underlie the region of Mako’s land holdings (fig. 1). Of these formations, two (the Rock Creek formation and the Duvernay formation) underpin the Company’s focus.

The Rock Creek formation was the original focus of the Company’s leasing activities and remains a highly valued asset, both by the Company and the industry. The deeper Duvernay formation, to which the Company also owns rights under 94% of its land, has been compared to the Eagle Ford shale formation of Texas and has been the subject of increased industry attention, particularly by mid-capped Canadian and US E&D companies, culminating in the acquisition of 497 sections (~127,000 hectares or ~320,000 acres) for CAD $750 million in June 2011.

Rock Creek Formation:

• Regionally extensive marine sandstone
• Extensive vertical well penetrations producing light oil and NGL-rich gas
• Abundant access to infrastructure and services

The Rock Creek formation is a tight sandstone reservoir located at a depth of between 2,000 – 2,800 m. A known reservoir, the productive region of the formation spans an area of approximate 200 kilometers by 115 kilometers. The formation is generally gas prone in the west but is light oil prone or liquids rich natural gas in the region of the Company’s land holdings 

For more imformation about The Rock Creek Project please click here.

Duvernay Formation:

• Ubiquitous organic-rich shale
• Source rock for numerous productive zones in the Alberta basin
• Emerging resource play

The Duvernay formation is another opportunity for the commercial exploitation of a previously known reservoir through the application of New Technologies. The Company holds and is operator of 123 gross sections (61.7 sections net) of prospective Duvernay land with average lease tenure of greater than 4 years.

The play has been the subject of increased industry interest recently, culminating in the acquisition of 497 sections (~320,000 acres or 127,000 hectares) for CAD$750m (a one-day sale record). Encana Corporation, a large, Canadian exploration and development company, subsequently announced that it was one of the purchasers for this acreage, which it compared to the Eagle Ford shale of Texas due to the liquids rich nature of its gas. The Duvernay lands recently acquired averaged $5,800 per ha or $1.5 million per section, with tracts of land adjacent to Mako’s holdings selling for approximately $14,000 per ha ($3.5 million per section).

For more imformation about The Duvernay Project please click here.

Other Productive Zones:

• Pekisko, Banff – Light oil and natural gas
• Nisku – Light oil

For more imformation about Mako Energy's new technology please click here.

Acting Chief Financial Officer: Mr. James Wilson

Since 1982 Mr Wilson has held senior management and executive financial positions in both public and private Canadian junior and mid-cap oil and gas companies including Grizzly Resources, Archean Energy, Grey Wolf Exploration, Maxx Petroleum, Chauvco Resources International, Chauvo Resources, Mark Resources and Precambrian Shield Resources.

His considerable experience includes raisings of debt and equity finance in both Canadian and US markets, significant acquisitions and divestitures and coordination of risk management and hedging programs.

He has supervised the establishment of international operations and offices and co-managed the day to day operations of a public junior oil and gas company in Canada.  He currently remains a director of 2 public Canadian junior oil and gas companies.

He holds a Bachelor of Commerce and is a Chartered Accountant.  He has also completed the Queen’s University Executive Program (1990) and is certified by the Institute of Corporate Directors (2010).

Executive Vice President: Mr. Cam Bolter

Cam Bolter has over 16 years of experience as a geologist in the Western Canadian Sedimentary Basin.

From 2001 to May 2010 Cam was the Exploration Manager and Chief Geologist with Zapata Energy. Zapata was a TSX listed oil and gas company based in Calgary and working primarily in Alberta. Through drilling, acquisitions and optimization Cam was instrumental in building the company from a $10 million to $155 million dollar value when it was sold in May 2010.  During that nine year period the Zapata’s production base increased from 75 to 3000 boepd.

Mr. Bolter also worked at Renaissance Energy, Pointer Exploration, Archer Resources and Dominion Energy Canada Ltd.

Mr. Bolter has drilled over 200 wells in the WCSB with a success rate that exceeds 80%.

Secretary: Mr. Leonard Math

Mr Leonard Math graduated from Edith Cowan University, majoring in Accounting and Information Systems, in 2003 and is a member of the Institute of Chartered Accountants.  In 2005 Leonard worked as an Auditor at Deloitte before joining GDA Corporate as a Manager – Corporate Services.

His public company responsibilities include corporate compliance roles, including extensive liaison with ASX and ASIC, control and implementation of corporate governance, completion of annual financial reports and auditor liaison, and shareholder relations with registry and shareholders both retail and institutional.

Mr Math is the Company Secretary of ASX listed Dynasty Metals Australia Limited, RMA Energy Limited and Ishine International Resources Limited. He was previously Company Secretary to ASX listed Catalpa Resources Limited and Ethan Minerals Limited.

Executive Vice Chairman: Mr. Simon Owen

Simon Owen has over 22 years of experience as a corporate and commercial lawyer and corporate advisor with particular focus upon business development.

Commencing with Blake Dawson Waldron in 1988, he has held positions as in-house counsel for JLV Industries Pty Ltd, a principal of his own firms for 10 years and now a partner of Gadens lawyers (WA), leading the Corporate division.

In his capacity as a legal and corporate advisor he has over 20 years experience in the resources industry both within Australia and internationally.

His various roles (both as an advisor and a Chairman/Executive Director) have provided extensive experience in strategic planning, corporate finance, negotiating and structuring acquisitions, establishing and managing joint ventures and regulatory compliance in various jurisdictions.

Managing Director: Mr. Paul Griese

Paul Griese has over 25 years experience as a finance and restructuring lawyer and business advisor. Serving in executive positions within a major US financial institution (Metropolitan Life Insurance Company) and subsequently with a European based private equity firm (Plaza B.V.). He has led major, multi-national finance and restructuring projects across a broad range of industries including, infrastructure, real estate, insurance, transportation and natural resources.

As the senior operating officer of a merchant banking unit and currently as principal of an advisory firm, Mr. Griese has led the formulation and growth of banking, technology, mining and commercial property development companies with particular expertise in the area of emerging markets and cross border securities and finance.

Mr. Griese has served in the capacity of executive and non-executive director of several listed and non-listed companies, audit committee chair, lobbyist and investment advisory chair. Mr. Griese is currently a principal of a business advisory company and a former director of Harness Petroleum Inc.

Director: Mr. Curt Hartzler

He is an Engineer with more than 35 years of experience in oil and gas operations, evaluations and senior management roles for both private and public Canadian energy companies.

Prior to Harness, Mr. Hartzler was the founding President and CEO of G2 Resources Inc. from 2005 to 2009, a TSX listed junior oil and gas company with a focus on gas in the Deep Basin area of west-central Alberta.  From 2003 to 2005, Mr. Hartzler was the founding President and CEO of Goose River Resources Ltd., which developed and optimized an oil pool at Redwater, Alberta, earning an 80%+ rate of return for the shareholders.

From 2001 to 2003 Mr. Hartzler served as Chairman of the Advisory Board for Rosetta Exploration Ltd., a public oil and gas exploration company with a mandate to explore for large oil and gas accumulations in the Western Canadian Sedimentary Basin.  This responsibility included the assembly of a group of technical experts who reviewed the geological, geophysical and engineering aspects of the exploration projects and presented their recommendations to the Rosetta Board of Directors.

From 1991 to 2001, Mr Hartzler was President of Birchill Resources Ltd, a private oil and gas company. He was hired to recruit new staff and rebuild a failing investment of $60 million which has deteriorated to a value of $30 million. By 2001 when the company was sold the company had grown to a value of $250 million while returning $120 million of dividends and was producing 8500 boepd.

Non-Executive: Mr. Graham Anderson 

Mr. Graham Anderson is a graduate of Curtin University and has over 25 years commercial experience as a Chartered Accountant. He operates his own specialist accounting and management consultancy practice, providing a range of corporate advisory and audit services to both public and private companies. From 1990 to 1999 he was an audit partner at Horwath Perth.

He is a Director and Company Secretary of a number of listed and unlisted public companies in both the resource and industrial sectors. He is a Director and Company Secretary of ASX listed companies – Dynasty Australia Metals Limited, Echo Resources Limited, Tangiers Petroleum Limited, and Pegasus Metals Limited, and is Company Secretary of a number of other ASX listed companies.

For investor information please click here