MPO molopo energy limited
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sinochem buys into pioneer's wolfcamp acreage

  1. MamaHuhu
    242 Posts.
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    31/01/13
    07:50
    Post #: 11355582
    According to Bloomberg overnight, Sinochem has bought 40% of Pioneer Natural's 207,000 acre Wolfcamp leases for around USD$500m.

    http://www.bloomberg.com/news/2013-01-30/sinochem-buys-stake-in-pioneer-natural-wolfcamp-for-500m.html

    Although its not straight-forward, this should allow for an easier valuation of Molopo's 26,000 acres in the same play.

    I wonder if the market will rerate MPO on open later today.

    GLTA

    Mama Huhu
    MPO Price at posting: 33.0¢ Sentiment: LT Buy Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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