Well another year goes by holding this share, but all seems to...

Well another year goes by holding this share, but all seems to be for nothing at this stage. Not happy, but not much we can do at the moment. I remain hopeful that the share market will wake up on this one eventually, should some nice results come in obviously.

Take this for example: http://www.mergernetwork.com/buy-businesses-for-sale/oil-gas-extraction/texas/307523.htm

They are hoping to get around $19M for this little share of the Permian. Mind you it is in Eagle Ford, but the estimated BOPD from the acres they are selling is only 3000pd after an extended drilling program (despite unproven reserves of course). Hmmmm, if Molopo can get the 2000+ exit rate I think we are starting to look pretty good.

The land referred to in the article listed above appears to be only 840 acres, thus making the per acre cost of $23,000 p/a?????? Even if Molopo's acreage is worth only half as much per acre, our share price really doesn't make sense.

Looking forward to an update from the company as our latest wells have been now on flow back for some time. There is so much silence between these monthly updates.