it may mean nothing but then again it might be telling. Approach resources, the logical buyer of our Fiesta acreage announced to the market today, that they have increased their borrowing base from 315 million to 350 million $.
One could suspect that this borrowing might be for a acquisition. Might know more at their tele conference tomorrow. $35 million (1500 per acre)is probably a realistic price. Other notable news from their quarterly, their best initial producer to date is from Central Pangea zone which borders Molopo's acreage. It has a IP of 1334 boed
MPO Price at posting:
20.0¢ Sentiment: None Disclosure: Held
