Mancal Energy Inc. (“Mancal”, or the “Company”) has retained Earth Horse Energy Advisors (“Earth Horse”) as its exclusive financial advisor and agent to assist with the marketing of certain Oil & Liquids properties located in the Karr, Redwater and Sawn Lake areas of Alberta (the “Properties”).
- Recent production of 1,368 boe/d, consisting of 934 bbl/d of oil & condensate, 108 bbl/d of natural gas liquids and approximately 1.96 MMcf/d of natural gas.
- Production from the Dunvegan (Karr), Viking (Redwater) and Slave Point (Sawn Lake).
- Mainly operated, high working interests.
- High operating netbacks, yielding an aggregate net operating income of $18.6 million per year.
- PDP reserves of 2.98MMboe,TP reserves of 3.32MMboe and 2P reserves of 5.82MMboe with a RLI of 6.0 years, 6.6 years and 11.6 years respectively.
- Net Deemed Asset value of $55.4 million with a LLR ratio of 3.87.
- Average working interest of 84.1% in 88 sections of land (56,328 gross acres) or 74 net sections or 47,371 acres.
- Drilling upside at Karr, Redwater and Sawn Lake, while the Sawn Lake property also has waterflood potential.
- Current production is consistent with the 2021 forecasted PDP production of 1,339 boe/d for the second half of 2021.
For more information visit Earth Horse Energy Advisors’ website at www.ehenergyadvisors.com
Contact Ryan Ferguson Young, President, Earth Horse Energy Advisors
Ryan.FY@ehenergyadvisors.com
(587) 432-0584.
Bid deadline Sept. 29, 2021, 4 p.m. MST