As a matter of interest, our former ceo Timothy Granger was appointed last month ,ceo and president of Lone Pine Resources Inc. (NYSE:LPR)
Amazing how quick these guys get re employed.
Presumably no recent resume was presented.:)
A couple of other interesting connections.
Lone Pine is at a 12 month low in share price, 90 cents at present compared to 12 mth high of $5.10.
They also have similar acreage in Quebec and are under the same moratorium as Molopo's acreage.
There is one difference.The company is threatening to file a NAFTA (North American Free Trade Agreement) lawsuit against Canada unless Quebec lifts the ban on fracking.They want $250 million in compensation.
They have approximately 240,320 net acres in Quebec that are prospective for the Utica Shale. Molopo has 1 million. Perhaps we can sue for 1000 million dollars.
That would be nice.
Anyway, it looks like there is some value to this asset.
In other news Approach Resources Inc. (NASDAQ:AREX) has announced their 1st quarter results and seem to be talking up their acreage which borders Molopo's Fiesta acreage. They, as well as BHP, which also has bordering acreage, seem the most likely to be the first companies enquired about a interest in Fiesta
MPO Price at posting:
28.5¢ Sentiment: None Disclosure: Held
