Mako told the Australian Securities Exchange yesterday it had lifted its proved and probable reserves by 54% to 347,700 barrels on the back of the drilling, with the company saying that 96% of these reserves were either light or heavy oil.
The news came as the company announced a planned sale of a small acreage of land at its Duvernay project in Alberta’s Pembina area had been cancelled after the buyer failed to obtain executive management approval to proceed with the deal.
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