no
No.
Yeah it is possible to catch kyogre with out wasting your masterball you wont have to use it until you see latias and latias requires you to use your masterball.
With a Masterball
a masterball
a masterball it can catch any Pokemon in the world in one throw
Try to catch it with a masterball. that's what i did.
I suggest using the masterball.
masterball
Masterball
MasterBall
MasterBall
Use your masterball