re: Ann: Arrow Acquires Major Stake in Chines...
See anything these two announcements have in common?
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Molopo Announcement of 17 November 2009 "Molopo Energy Ltd (Molopo) announces that it has entered an agreement to sell its nonoperated interest in Liulin, Shanxi Province, China, to Fortune Oil Plc (Fortune Oil) for US$6million."
Arrow Announcement of 21 December 2009 "Arrow Energy subsidiary Arrow Energy International (AEI) has signed an agreement with Fortune Oil subsidiary, Fortune Green Energy (FGE), to acquire a 35 percent stake in Fortune Liulin Gas (FLG). Total consideration for this stake is US$13.3m with US$6m of these funds being committed to the 2010 work program which includes the drilling of horizontal pilot wells."
**************************** Me again: At the recent Molopo AGM two directors spoke very disparagingly about the Chinese partners and how pleased they were to be out of it. Their take was that the muddling around that MPO had been lucky enough to extricate itself from would ensure that nothing ever came of the project.
Maybe there are things we don't know but Gee Whillikers, you have to wonder don't you.
AOE Price at posting:
$3.97 Sentiment: LT Buy Disclosure: Held
