A look back at what management have promised regarding the Power...

A look back at what management have promised regarding the Power Project. Doesn't this remind you of "Days of our lives". Promises, promises, promises!

29th January 2010
Molopo has recently received approval for its own road/rail crossing under the Dawson Valley highway. This significant milestone will allow Molopo to expand its own sole risk gas gathering system in the Mungi and Harcourt areas in support of the Power Project and other gas sales. The current gathering system was not designed in anticipation of the high flow rate wells which Molopo is now creating. It is expected that system bottlenecks will become an increasingly significant limitation on individual well capacity until the system expansion, which Molopo has planned for late 2010, is completed.

6th April 2010
Pathways to commercialisation of Molopo?s gas interests in Queensland continue to be evaluated, including continuation of the feasibility study for the Moura Power Station, which has a final investment decision target of November 2010. Appraisal and planning for the Lilyvale gas to power option is expected to commence in 2011.

April 2010
Feasibility study for Mungi Generation project initiated final investment decision planned for October 2010.

June 2010
Feasibility study for Mungi Generation Project underway, final investment decision planned for late 2010.

August 2010
Feasibility study for Mungi Generation Project underway, sites secured, planning and development approvals targeted for Sep 2010 with commissioning targeted for Oct 2011.

September 2010
Molopo continued to progress the feasibility study for its power generation project. Development approvals are expected to be received by calendar year end.

Tender documents were released in September seeking submissions for the construction of the power plant, the connecting power line and long term operations and maintenance of the power plant.

The final investment decision on the power generation project is expected in early CY2011.



And according to these last 2 announcements we are due for some very important news this week...or is this just another misleading statement from MANAGEMENT!!!

10th December 2010
The results of the initial programme, together with the 2008/9 CSG pilot at Timmy-1, are now being used to support a maiden reserves certification for the Timmy Prospect and will form part of the initial Production Licence Application (PLA) submission for Timmy.

Both the reserves certification and PLA submission are expected to be finalised by the END OF THE CALENDAR YEAR.

29th Novemebr 2010
Molopo expects the IPO to close in the first quarter of CY2011: Subject to market conditions and all applicable approvals and regulatory requirements being met, Molopo expects to complete the IPO in the first quarter of calendar year 2011.

As part of the IPO process Molopo expects to release an updated Canadian oil reserves report by the END OF THE CURRENT CALENDAR YEAR.