Looking at the 4th quater activities and cash flow report have a read below could this be the reason for the placement??
Under an Assignment of Duties Agreement, Molopo and Anglo Coal continued planning for up to three new sole risk multi-lateral wells, with the first of these being a dual lateral well, Mungi 22, followed by two triple lateral wells, Mungi 21 and Mungi 20. Drilling and directional steering contracts have been formally awarded and statutory approvals and clearances are in place for drilling at Mungi 22 to commence in late July. These new wells, combined with planned well workovers, should significantly increase overall field production. The above wells will be funded 100% by Molopo under “Sole Risk Operation Notices” to Joint Venture participants, which entitle Molopo to 100% of the gas produced until it has recouped 300% of its investment.
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held