MPO 0.00% 14.0¢ molopo energy limited

broken promises again, page-8

  1. 1,361 Posts.
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    I have problem that haa worried me for ages and one which
    someone may be able to help me with.

    In their todays announcement they state that:

    "The Company advises that negotiations for the sale of
    the assets are continuing and the formal sale process has
    been extended to ensure delivery of the best value outcome
    for shareholders."

    If they want to get the best value outcome then why are
    the trying to sell before the prove up the five sole
    risk multilateral wells that they have spent millions
    of dollars drilling at Mungi?

    I understand that the have problems with coal fines
    in one of these wells and a problem with a pump in
    another but, despite the fact that they started dewatering
    the last two in the middle of last year, I am not aware
    that any decent and consistant flow rates have been reported.

    Surely this cannot be a good bargaining position
    particularly, if they can be proved up, the additional
    cost should be a small fraction of the cost of drilling.

 
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Currently unlisted public company.

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