Coal-bed methane (CBM) gas producer Molopo Australia Ltd (MPO) is to move into the energy market in the United States following the completion of a series of agreements covering a large gas project in West Virginia. The project contains multiple oil and gas targets in sandstones, shales and coals. Gas in the leases is currently being produced from the Ohio Shale zone. The move is the Company's first in the US and adds to its producing and exploration interests in CBM projects in Queensland's Bowen Basin and the Gloucester Basin north of Newcastle in New South Wales.
MPO Price at posting:
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