stop the rot !!, page-34

chezzyboy

'Does anyone want to share what they believe the immediate mandate for the new board would be? I know there has been talk but what do you think will happen in the short term ie. next month to 2 month?'

1. Change in strategic focus to include value generation to the point where MPO can compensate shareholders in the form of dividends. All projects MPO undertake will be measured against this objective. If the benefits fail to meet this objective the project does not recieve funding. If we do undertake a project whose benefits do not fulfill this strategic objective then there should be accountability within the Management team (this is what we pay them to do). We may then avoid mistakes like Bakken and Spearfish.


2. Analyse the current portfolio. If the benefits from the asset do not meet the strategic objective then Mr Beck can sell it i.e. core assets are the assets that will pay us a dividend all other assets are non-core and should be sold.

3. Institute structured project management that includes appropriate communications to external stakeholders.

4. Ensure better acquisitions by including more due diligence. Molopo have acquired very average oil assets in Canada. I can't believe these assets would have been bought if there was proper due diligence. The only person making money out of the oil assets is the person who is receiving the royalties.

5. New Senior management to replace the CEO and CFO who are responsible for taking the rubbish projects forward to the board - i hope their performance at Molopo haunts the rest of their careers