Molopo had done nothing for the past 5 years, but it is now on the move on the coat tails of the CSM bubble. The company proudly proclaimed that it had acquired an executive team of technical managers from BHP, who must be able to run the company more professionally than it has in the past. The company is building 2P gas reserves in the Clarence Morton and Gloucester Basins and holds $42 million of cash, so it should be able to pay the new team (for a while). MPO has interests of doubtful quality in South Africa, China and West Virginia. Salinas Energy is developing a 5.5 mmbbl, heavy oilfield at its North
MPO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
