MPO - Molopo Gas

Drilling has commenced in Waukivory 01, the third of four part-cored coal bed methane (CBM) exploration holes, planned as part of 13 holes in the expanded Phase II Gloucester Basin appraisal programme. Waukivory 01 spudded on 2nd August to assess the CBM potential in the northern portion of the Gloucester Basin in PEL 285. The current progress depth is approximately 111m, with a proposed total depth of 1,000m. The hole is designed to test the depth, thickness and coal and gas characteristics of the coal seams in the Gloucester Coal Measures, and is specifically located to test the CBM potential of coal seams within the Craven Subgroup and underlying Avon Subgroup.

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financial chat said:

Just posted by someone on hc:

double bottom

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Subject: double bottom
Stock Code: MPO - MOLOPO AUSTRALIA LIMITED
Posted: 09/08/07 12:01 Hotcopper Radio: MPO on BoardRoom Radio
Posted By: robbbbbbb Views: 6
Post #: 2016899 (Start of thread) Sentiment: Buy
IP: 124.177.xxx.xxx Voluntary Disclosure: Stock Held
if the market settles down here over the next week something you might want to keep in mind is that after the recent down we had a double bottom occur with molopo that would make me think that the next up trend could see us realisticly look at 43 cents thats bases on technicals and not factoring in any market announcements

will watch with interest and mabye buy some more early nex week
Price When Posted: $0.255

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Molopo’s initial three month exploration and appraisal work programme in the newly awarded South
African Exploration Rights have yielded very encouraging results with over 70 gas emitting boreholes
identified.
Given the highly encouraging results, the programme emphasis is now shifting from exploration to the
monitoring of gas production rates from flowing wells, with the aim of establishing gas reserves.
Preliminary work on connecting the largest of the gas blowers to establish an early cash flow has
commenced.
Recent field work has uncovered 71 mineral boreholes emitting gas (some at high rates – many at low
rates), bringing the total number of gas emitting boreholes to 21 in the Free State project and 50 at the
Evander Project. In some areas, clusters of these gas-emitting boreholes appear to be geologically
controlled.
In the Free State, a soilgas geochemistry survey comprising approximately 2,000 samples to date has
delineated anomalies which correspond closely to known gas flows, as well as to geological structure.
Magnetometer traverses across these anomalies are confirming fracture zones and associated igneous
intrusions that are thought to control gas migration.
In the light of gas flow rates already measured in the Free State (approximately 1,500,000 cf/d from six of
the larger gas emitters), and the additional gas emitters recently discovered, discussions have commenced
with several South African companies with respect to purchasing existing gas production.
Possible uses of the gas from the Free State include industrial use in nearby towns, provision of
compressed natural gas (CNG) to local transport companies, small scale LNG or liquid fuels generation
and gas-fired electric power.
At the Evander Project, many of the boreholes emit small volumes of gas bubbling up through water.
Further investigations will consider unloading this water to assess if it is possible to increase gas volumes
from such wells. Soilgas and magnetometer work scheduled for Evander in September is expected to shed
more light on the dimensions of the prospective areas. A large gas import pipeline passes through the
Evander project area.
Following completion of the Phase 1 work programme in November, Molopo proposes to fast-track its
remaining exploration commitments and firm up drillable prospects to supplement existing gas production.
At that stage the Company intends to apply to PASA for the requisite production licence.

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Molopo Australia Limited is pleased to announce that, following approval by shareholders last Friday 31 August, authorising the placement of 133 million ordinary shares to sophisticated and professional investors at an issue price of 25 cents per share ("Placement"), the Placement has been finalised, with $33.25million received today. 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 specifically to support the following: a) Further development of the Mungi Gas Field once the existing sole risk well programme is successfully completed;
b) Finance the $6million cash portion of the acquisition of Helm’s share of the Queensland coalbed methane assets. The non-cash consideration of this transaction, involving a placement of 30 million ordinary shares to the vendors, was approved at last Friday's general meeting. The acquisition is now unconditional, with Completion scheduled to occur later this week;
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; and e) Additional working capital for the Company.

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fmf said:

mpo seems struggling again today, someone tell me why this little gem is currently out of favour, must be drilling news soon

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danc said:

A bit of tech stuff on this , because of the patten of the chart, because of the RSI patten, because of the OBV on week and mth charts,because of a fibbo cluster both .618 points based on major ranges because of the minor range which sits on what is known as a gattley patten at the fibbo point .786, because of the build up of vol over the last 4/5 days , because basicly this one has hi potential and establishing fundies i reckon THE BOTTOM is in///

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HRL said:

Hi EZZA,

Hard to say really as there has been so much movement over the past months... nice long climb up to 30 then tanked back to 15. Good upturn this week but don't know if it will hold. Interest has definitely returned this week with trades and volume higher than it's been for a while. I would expect 18-20 to be a good support level for now - buy queue is stacked at 20-20.5 (4.5m orders) and then lower at 18-19 (another 4m). Sell side is piled up to 24. Annual report looked good the other day but there hasn't been much real news recently. Some good news and everything could change. Wish I had the readies last week as 15 was pretty cheap IMO.

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