First asset: KE Field

KE Field is an onshore/swamp “marginal field” (51 km²) in the southern Niger Delta carved out within OML 55, operated by Chevron Nigeria

Staged Oil Development

The asset consist of a discovery KE-1, and the prospects KE-North, KE-Northeast and KE-South with multi-stacked reservoir sands
The asset has been extensively studied and described in a CPR and independent field studies
Re-entry existing well KE-1 well with proven reserves and immediate oil production in 2014.
Immediately thereafter drill one well into KE South West.
Some infrastructure is in place. Perimeter fence, ground/location preparation, access road, jetty & staging area, waste-pit and helipad.
There is scope for exploration drilling into the KE prospects: > 100 MMb prospective resources

Experienced E&P management with proven track record in-country
Board with experienced public company directors with strong financial background and in-country relationships
Company will use KE as a spring board to develop a pipeline of other assets
Affiliate companies have equity stakes in 3 exploration blocks
*Potential deal flow for MakMera Upstream

Financing on course to put KE-1 well into production and appraise KE South
Will grow reserves and production from cash flow thereafter
Expected to list on TSX
100% interest in the KE Field was awarded to local indigenous company Del-Sigma Petroleum Nigeria Limited (“Del-Sigma”) in 2003
MakMera Upstream Inc. (“MMU”) has acquired a 40% participating interest in 2012 through a Joint Operating Agreement with Del-Sigma