MPO - Molopo Gas

[sandlion]

Hi All...

mine is not very technical...I hold MPO for some very basic reasons...LNG generally is the way the majors are going worldwide...CSG is a pretty low tech recovery option and easy if you keep the well flowing...the BHP dude in charge will drive the company into the sort of territory ESG and formerly QGC occupied (before QGC moved up into AOE territory and before AOE went into local major territory)

I been to Molopo's wells I have touched the compressors...!!! Its a nice spot and prime for growth

 

[Hawkeye]

Can anyone shed some light as to what is happening with Molopo. I'm in for the long run - however todays 'good news' announcements were not thought of in that light by the market...sp continues to fall - down to 23c. For some - this could be seen as a good 'buy in' time - but for those of us who hold it - it's not great news when we were expecting another run at the .30.

 

[malachii]

I certainly used today as a top up day - bought $20 000 worth. Hope I'm not making a mistake - I think the downward pressure is due to everyone having to pay for their MPOOA (options) this week. People are selling the share to convert the option - that's my theory anyway.

malachii

 

[malachii]

Nice bounce back to the 24.5-25cent range this morning. Hope it holds and doesn't get caught up too much more in the end of financial year and option conversion downdrafts - but if it does - I think I might pick up some more.

malachii

 

[SGB]

Nice bounce back to the 24.5-25cent range this morning. Hope it holds and doesn't get caught up too much more in the end of financial year and option conversion downdrafts - but if it does - I think I might pick up some more.

malachii

Hello malachi

geez.... i like the way this one is shaping up IMO.
As a t/a user the swing,although week, is advancing a double top. A strong day tomorrow will ignite the SAR and could possibly cross over in the MACD, a buy signal for bull traders. Resistant points are .28 , .30 , and .32. but has plenty of RSI to handle this.
Longer term investors like yourself would enjoy better fundles.
Its really up to tommorrows fundles to help us out.ie: end of financial year and option conversion downdrafts.

Cheers
SGB

 

[malachii]

Well - currently touching 28.5 and building a good 1mil+ depth at 28 + 27.5. Keep it coming!

malachii

 

[SGB]

Is MPO ready to head into higher grounds and smash 14 year drought?
.......Time Will Tell........

SGB

Its that time again...
Can it extend the 14 year drought.
MPO Volumns are once again very high today

SGB

 

[Lachlan6]

Very nice chart set up. Bought in today at 29.5c. I think this may have a way to go yet after breaking short term resistance since early June.

 

[SGB]

Very nice chart set up. Bought in today at 29.5c. I think this may have a way to go yet after breaking short term resistance since early June.

Hi Lachlan
Charts look very healthy and just as i type it hit .305. New 14 year highs.
Who knows where we will end up from here.

 

[nizar]

Very nice chart set up. Bought in today at 29.5c. I think this may have a way to go yet after breaking short term resistance since early June.

Nice close today. Looks to me like shes gonna go for another run.
Solid support at 28.5c.

I mite add a few more 2mrw.

 

[CanOz]

The Commercials are long on Gas too, i'll post a futures chart later. Not sure really how much it has to do with the price movement though. Energy sector hasn't been great the last week, time to get a move on.

Cheers,

 

[malachii]

MPO in a trading halt now - Geez are all the Coal Seam Gas Companies making an announcement today!! Hope it's a good one!!!

malachii

 

[daaussie]

MPO trading very well, this is a nice rise to 34.5 on friday, and after a few profit taking, stablized at 32.5
Any thoughts on mondays potential?

 

[SGB]

MPO trading very well, this is a nice rise to 34.5 on friday, and after a few profit taking, stablized at 32.5
Any thoughts on mondays potential?

Getting a little overbought for me now. Exceeded trading plan so I'm out. Happy to take 100% profit.
SGB

 

[BIG BWACULL]

Announcement out and positive reaction from the market
Molopo to Accelerate Gas Developments with Heavily Oversubscribed Placement

Molopo Australia Limited is pleased to announce the completion of a $33.25 million share placement (“Placement”) to sophisticated and professional investors, involving the issue of 133 million ordinary shares in the capital of the Company at an issue price of $0.25 per share. The proceeds of the Placement will be used by Molopo to accelerate its development and production plans while also enhancing its existing exploration and appraisal programmes. Over the forthcoming 12-18 months, the funds will be used to specifically support the following:
a) Further development of the Mungi Gas Field once the existing sole risk well programme is successfully completed;
b) Finance the acquisition of Helm’s share of the Queensland coalbed methane assets, subject to Completion. With the Helm acquisition Molopo’s share of the Queensland CBM assets will stand at 50%;
c) Funding major work programmes aimed at securing reserves certification in both the Gloucester and China Liu Lin projects as a precursor to development commitment;
d) Expanding its exploration programme in South Africa (where Molopo recently increased its interest to 100%) and investigating the potential to move to earlier production capture from this new area;
e) Additional working capital for the Company.
Stockbrokers involved in the Placement were E.L. & C. Baillieu Stockbroking Ltd (“Baillieu”) and Wilson HTM Corporate Finance Limited, with Baillieu in the role of Manager. Under the terms of the Placement agreement, all participating investors have a firm obligation to purchase a total of 133 million new ordinary shares at the issue price of $0.25 per share, subject to approval by Molopo’s shareholders at a General Meeting. The Placement shares will be issued to subscribers shortly after shareholder approval has been granted.

 

[nizar]

Announcement out and positive reaction from the market
Molopo to Accelerate Gas Developments with Heavily Oversubscribed Placement

It didnt need much volume to prompt this alltime high close.
Looks to me like the beginning of the next upleg.

 

[clowboy]

Hope your right nizar, its been a bit dorment as of late but support at around 28/29 has built up a bit

 

[Col Lector]

Gidday MPOs.. I can imagine that MPO would need to churn some more cash into the Gloucester project. AJL...the 70%JV partner raised $25mill in the last couple of weeks to accelerate Gloucester.
Just wondering what proportion of the MPO shareprice 32.5c would MPO-holders attribute to MPO's interest in the GloucesterCSG project??

 

[BIG BWACULL]

It didnt need much volume to prompt this alltime high close.
Looks to me like the beginning of the next upleg.

The Afternoon announcment sent it to a good close and possibly more to come.
AGREEMENT SIGNED TO DOUBLE MOLOPO’S SHARE OF QLD CBM ASSETS

Molopo Australia Limited wishes to announce that, following the signing of a Heads of Agreement with Helm Energy-Australia, LLC (“Helm”) to acquire its Queensland coalbed methane (“CBM”) interests (as previously announced by the Company on 29th June 2007), a Purchase and Sale Agreement has now been executed. Molopo will boost its interest from 25% to 50% in the Bowen Basin CBM assets, including the Mungi Gas Field, as well as the Harcourt, Bindaree, Timmy, Lilyvale, Oak Park and Sirius Prospects. On completion, the acquisition will make Molopo the largest participant in the joint venture at 50%, with subsidiaries of Anglo (25.5%) and Mitsui (24.5%) being the remaining partners. Molopo will acquire 100% of the shares in Helm Energy-Australia, LLC (“HEA”), which in turn holds the Queensland CBM interests in PL94 (northern sublease), ATP564P/PLA210 and ATP602P. Along with the interest in the tenements, Molopo will also be acquiring Helm’s share of production from the Mungi Gas Field, an additional 50% interest in the Mungi compressor and spur pipeline, and will assume Helm’s interest in all gas contracts associated with the projects. Acquiring the company may also provide Molopo with access to the tax losses within HEA.

Molopo’s Managing Director, Mr. Stephen Mitchell, said “The acquisition of the Helm interests will give Molopo a substantial interest in this core project area. Combined with a strong cash position (approximately $42m expected by late August) assuming approval is granted by shareholders for the acquisition of HEA and the recent placement, Molopo is now ideally positioned to benefit from development and appraisal activities in the region as well as increased gas reserves, cash flow and leverage in the Queensland gas markets.€

 

[SGB]

Getting a little overbought for me now. Exceeded trading plan so I'm out. Happy to take 100% profit.
SGB

Happy to be back in MPO now. Bought in at 24c yesterday. A liitle oversold and representing good value in my opinion.