Mako Hydrocarbons to raise capital

(MENAFN- ProactiveInvestors - Australia) Mako Hydrocarbons (ASX: MKE) is preparing to announce details about a capital raising and has placed its shares into a trading halt. The company had earlier this week announced plans to sell its non-core Provost heavy oil project to focus on the Duvernay and Rock Creek plays. It is also participating in its first Duvernay well on its Rimbey, Alberta, acreage to evaluate the shale horizon, though it is fully carried by operator Black Swan Energy for its 10% stake. The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday 3rd December.