Mako Energy Limited was re-listed on 24 August 2010 after closing its Prospectus fully oversubscribed raising $4M.

On the same day, Mako exercised its option to acquire Harness Petroleum Inc (its JV partner) and moved to 100% ownership of the JV assets. In doing so Mako has also acquired its first production revenues.

Construction of the Provost Project facility is now well underway and progress since the 1 September 2010 Operational Update is summarised below.

Facility • All perimeter roads and facility berm have been completed. • Liner has been set inside berm. • Tanks, test separator skid, and flare knock out tank have been set on liner. • MCC/Instrument Air skid is set, and has been configured to hold power controls. • Flare line and stack have been installed. • 5-2 water injection line has been ditched and completed.

Pipelines • Ditching is 75% complete. • All flexpipe and poly fuel gas pipe has been delivered to the site and will be installed over the next 7-10 days. • Natural Gas Co-op crossings have now been completed. • Favorable weather permitting, the facility is projected to be ready for first production in October, 2010.

Provost Project This Project involves the bringing into production of two previously discovered Dina oil pools in the Provost area of Alberta, and the expected expansion of the size and EUR of these pools by development drilling of up to 20 or more infill wells. The Project is comprised of 192 hectares of land on which 5 drilled and shut in Dina oil wells are located and awaiting completion of facilities. 2 Dina oil pools have been recognized by the Energy Resources Conservation Board ('ERCB') and identified as the Dina P8P and MMM pools. Reported API gravity on the Dina MMM pool is 19.6° and 26.8°on the Dina P8P pool.

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