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
Bid deadline Sept. 29, 2021, 4 p.m. MST