markets awaits molopo

Market awaits Molopo CSG sale
02 AUG 2011
The sale of Molopo Energy's coal seam gas assets (CSG) in Queensland is "key" for the company to realise value, according to Credit Suisse.

But production from the assets has been poor, with production of just 95 terajoules in the June quarter, Credit Suisse analyst Sandra McCullagh has told clients.

Molopo hired Lazard earlier this year to run a sale process for the assets, which are located in the Moura area and may attract bids north of $100 million, according to market sounding.

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http://afr.com/p/business/companies/market_awaits_molopo_csg_sale_0090DswLEFfG9k272wWMOM