14 months on and where Steve Cloutier taken MPO ~...

14 months on and where Steve Cloutier taken MPO ~ NOWHERE!

January 16, 2013

Molopo Energy Limited: CEO Appointment and Strategy Review
Commenting on Mr Cloutier's appointment, Molopo's Chairman, Mr Greg Lewin, said, "The Board has engaged Steven Cloutier, to deliver a strategy of maximising the return to shareholders from the Company's current assets which as at 31 December 2012 included approximately US$70 million cash and 950 boep/d production; 26,000 acres in West Texas in the prospective Wolfcamp formation; 47,000 acres in Saskatchewan; 900,000 acres in South African onshore gas projects with a production right and 1.4 million acres in Quebec prospective for shale gas.

Steven's track record of realising shareholder value appreciation in his previous companies, together with his entrepreneurial approach, provide the Board with confidence that he can successfully lead the Company to value maximisation for Molopo's shareholders."