MPO 0.00% 14.0¢ molopo energy limited

further catalyst, page-4

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    https://secure.wilsonhtm.com.au/rsearch/Resources/MPO20090424.pdf

    Recommendation
    MPO reported steady progression of its key projects: Mungi CSG in
    Queensland, unconventional gas in South Africa and shale gas in Quebec.
    MPO has flagged its desire to assume operatorship of the Mungi project
    (currently operated by Anglo) and its intention to proceed with full field
    development. In South Africa the absence of decline in gas production
    from old mining core holes points to possible future reserves upgrades,
    and discussions continue with potential joint venture partners. Drilling is
    expected in Quebec in the September quarter. We retain our Buy
    recommendation; our price target is $A2.25/share (previously $A2.10).

    Not quite sure where the previous target of $2.10 came from, as according to the previous report (March) the target was $1.80. They must have upgraded the target at the end of March as well.
 
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