Ann: Mako Appoints Macquarie and Acquires Further, page-17

re: Ann: Mako Appoints Macquarie and Acquires... Just down the road

ConocoPhilips (COP US; US$65.52); Rating: Neutral; Target: US$74.00
Net Sections: 135
Conoco has licensed two Duvernay horizontals in the Willesden Green area in what appears to be the liquidsrich
gas/oil window of the play. We also understand that in the coming months, Conoco is set to license another
horizontal Duvernay well in the area.