I must have read it wrong or have I. RELEASE 30th January 2008 MOLOPO UNDERTAKES MAJOR EXPANSION IN NORTH AMERICA • Acquisition of 1.85 million acres for US3.2 million (Net Revenue Interest 80%) • Shale gas and conventional gas opportunity • Large multiple Trillion cubic feet potential • Minimal initial work commitments • Access to US East Coast gas prices (approximately US$8 per Mscf) Molopo wishes to announce the signing of a Purchase and Sale Agreement involving the acquisition by Molopo of a substantial acreage position in the emerging Eastern Canada shale gas play. Under the transaction, Molopo will acquire approximately 1.85 million acres in Quebec province, Canada, for a consideration of US$3.2 million. The acquisition price represents an average cost of US$1.72 per acre. The transaction will provide Molopo with an 80% net revenue interest (“NRI”) for the acreage
MPO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
