Maka Central discovery marks Suriname’s deepwater debut

Apache and Total made Suriname's first deepwater discovery with the Maka Central-1 well. The well found significant resources in Campanian and Santonian stacked reservoirs, and we believe it is commercially viable. We assume an 80,000 b/d FPSO development and have run the economics for it. The discovery occurred a few weeks after Total farmed-in into the block. The farm-in terms hinted at the multi-billion barrel potential for the block, and Total will look to firm up the resource potential. The market reacted immediately and Apache's share price increased by 27% on the news.