Hi everyone,I just ask people why did they get into MPO to begin...

Hi everyone,

I just ask people why did they get into MPO to begin with, most likely because you believed in their product, you believed that this company will succeed. Why did several, I think 5 previous BHP staff (engineers, I think) leave BHP to go to MPO, they had to know something. I cannot believe they left a good employment opportunity without doing their own research to go to another one that was more likely to fail.
I also remember HC members down ramping NDO, SDL, PDN, PLA, AGS, AVM, GDY and more when they were penny stocks. I know we get jittery when the stock seems to be stuck or start taking a downward turn but all these stocks I mentionned above did the same. I still think with time, MPO will do well, but we have to be patient. I don't condemn members for selling their stocks as we all need to do what we think is best for ourselves but I just want to remind members why they got in in the first place and what has changed (is MPO still not drilling for CBM in China, South Africa, USA and Australia?
From MPO's website:

Australia

"Molopo has interests in three Petroleum Exploration Licences (PELs) in NSW, covering a total area of
5,700km2, namely:
PEL285 1,050km2 30% Gloucester Basin
PEL13 1,200km2 100%* Clarence Moreton Bay
PEL426 3,4502 100% Clarence Moreton Basin

Molopo is a coal seam gas developer and producer in Queensland. It has interests in a series of permits in Queensland’s Bowen Basin. Permits PL94 (northern part), PLA 210, ATP564P and ATP602P cover an area of 2,188km2 and extend from north of the township of Taroom, through Moura and Blackwater to the northeast of Emerald (Figure A). In each case Molopo has a 25% interest, with Helm Energy Australia LLC (“Helm”) 25%, and with the sale of Origin Energy’s interest, Anglo Coal (Moura) Pty Limited (“Anglo”) has 25.5% (Operator) and Mitsui Moura Investment Pty Ltd (“Mitsui”) holds 24.5%."

China – Liulin, Shanxi Province

"In April 2006, Molopo announced that it has entered into a conditional agreement with a London Stock Exchange listed company, Fortune Oil Plc, to fund
the next stage of appraisal at its large CBM project
in China.

Under the Agreement, Fortune Oil will be entitled to 60% of Molopo’s interest in the Liulin project by contributing US$2.5million to the project.

The bulk of the funding is expected to be applied to production testing, aimed at identifying a stimulation technique that could be applied to the estimated 700 to 800 BCF (740-845PJ) gas resource at Liulin.

Fortune Oil has considerable expertise in oil and gas investments and operations in China which, when combined with Molopo’s upstream expertise in CBM, should help unlock the massive gas resource at Liulin."

USA

"Molopo’s interests in the USA target conventional gas, CBM gas and shale gas resources, principally in the Appalachian Basin.

Natural gas is produced from more than 100 stratigraphic levels in more than 1,000 named fields in the broad area from New York State to Tennessee,
and includes large portions of Pennsylvania, Ohio, West Virginia and eastern Kentucky.

Molopo has identified opportunities in three established gas plays in the northern Appalachian Basin of the USA – CBM, conventional gas and gas from shale. These opportunities are spread through West Virginia, Pennsylvania and New York State (Figure K). The new higher-priced gas regime in North America and expectations of continued growth in US gas demand, coupled with new drilling and completion technologies to increase gas production, have re-focused attention on this long-established gas-producing region.

To date Molopo has leased approximately 9,500 gross acres in Mason County, West Virginia at relatively low cost. In addition to West Virginia, Molopo has secured development rights for CBM in 4,000 acres in Fayette County, Pennsylvania (Figure K)."

SOUTH AFRICA

"South Africa introduced legislation in 2002 to enable the granting of exploration licences onshore for petroleum.

Molopo has a 50% interest in the joint venture company, Highland Exploration and Production (Proprietary) Limited (“Highland”), with Foree International being the other shareholder. Highland has applied for several onshore oil and gas permits which await government approval.

The applications pertain to exploration rights in Virginia in the Free State Province and Evander in Mpumalanga Province, and amount to 497,000 and 153,000 acres, respectively.

Natural gas (mainly methane with minor amounts of helium) has been encountered in numerous deep mineral exploration boreholes and in many gold and coal mines in the area. The gas mainly occurs in the Karoo sediments which overlie the gold bearing Witwatersrand. Measured flow rates from three open bores reach almost 800 Mcf/d.
These wells have been constantly venting gas for decades."

Highland is investigating means of capturing and exploiting the gas for commercial purposes including piping to nearby population centres, feedstock for CNG, small scale LNG and biofuels (ethanol) manufacture."

Sorry about the long winded message but just wanted to remind members of why we purchased MPO in the first place.

Have a great day

Alaca

"Try smiling and say Hello to complete strangers in your day, you might be surprise how good you feel, not to mention the impact on the other guy"