Kirit Hira, Macquarie Capital Markets (4/23/12) "Following encouraging well results at its Fiesta project area in the Permian Basin, Molopo Energy Ltd. has upgraded both capex and production guidance for CY12. The new capital guidance of AU$98M for CY12 is 13% above our expectations and compares to previous guidance at merely AU$36M. . .the increase reflects an expanded drilling program in the company's Permian acreage, where management now expects to drill a further six long horizontal wells by year-end, in addition to two new wells in the Bakken. . .we maintain an Outperform rating and a AU$1.25/share target."
http://www.theenergyreport.com/pub/co/3545
MPO Price at posting:
67.0¢ Sentiment: Buy Disclosure: Held
