Gday allBeen a very long time since my last post.... have been...

Gday all

Been a very long time since my last post.... have been travelling around Europe for a 4 and a bit months!

Was keeping an eye on the action though, and the change in board. Must say I am very happy with the more focussed strategy that we will be taking forward.

The following is in the street talk section of the AFR today (typed by me, so apologies for any typos):

"The long-awaited second wave of consolidation in Australia�s coal seam gas industry could well about to start, with Melbourne-based Molopo Energy potentially at the forefront.

Molopo yesterday revealed its Queensland coal seam gas assets would be up for sale under the strategy announced by are the new management seam that ousted the old board earlier this year. That was something of as surprise, given these assets had earlier been flagged as a key part of the new Molopo, and the proposed sale suggests management may already have received an informal apporach or two for the assets.

Molopo's Queensland reserves aren't the biggest in the world, and the fact they are held in joint venture with Japan's Mitsui adds a complicating factor, but nevertheless they are tipped to appeal to all four of the big QLD LNG projects."

There is a bit more.... but not exactly relevant to MPO.

This should help get a bit of excitement back.

Sum of Parts as follows:

Cash backing of around $160m (net of tax etc)

QLD CSG: At industry average 2P 328 x $1.50 = $492m
3P 789 x $0.55 = $433m. Take say 70% of this to discount just to be safe, (don't forget this is closest acreage to Gladstone, so will be pretty sought after), that gives roughly $300m (off the 3P figure).

So cash and QLD CSG alone are worth around $460m or based on current 251m shares on issue it gives a share price of $1.83!!!! And that doesn't even take the North American assets into consideration, or South Africa.

100% upside possible here... ridiculous.

Will be good once we finally have the rain turned off and get some flow rates from the final 2 trial wells as well... that could really add some value and temptation to the LNG players. One thing with the floods is that the LNG players may have realised now that they will need to have a geographical spread of gas supply in case of extraordinary circumstances.

Anyway, excited to be back, I think things are starting to really look up for MPO!