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Market: ASX
Sector: Energy
EPIC: MPO
Latest Price: A$0.64  (-2.27% Descending)
52-week High: A$1.09
52-week Low: A$0.55
Market Cap: A$158.40M
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MOLOPO AUSTRALIA LIMITED
www.molopo.com.au
Molopo Australia Limited (Molopo) is engaged in the business of investing in petroleum exploration, appraisal, development and production, particularly non-conventional gas comprising coalbed methane (CBM) and shale gas. Its exploration appraisal and development activities for petroleum take place in Australia, United States, Canada, South Africa and China. It holds a 50% interest in several gas fields located in the Bowen Basin, Queensland, a 30% interest in CBM operations located in the Gloucester Basin, a 50% interest is a United States gas project, a 100% interest in a shale gas project in eastern Canada, a 50% interest in two permits in the Clarence Moreton Basin, an interest in the Liulin CBM project in China, and a 100% interest in two South African projects covering 250,000 hectares. On September 7, 2007, it acquired 100% of the voting shares of Helm Energy-Australia, LLC. On November 21, 2007, it acquired 90% of the voting shares of Molopo Energy India Private Limited.
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Molopo Energy raises A$36m in institutional share placement and entitlement offer

18th Mar 2010, 9:23 am

Molopo Energy (ASX: MPO) has announced the successful completion of its institutional share placement and the institutional component of its accelerated renounceable entitlement offer, which were previously announced to the market on 15 March 2010.

A total of A$36 million has been raised from institutional investors, including: A$31.5 million under the Institutional Placement, priced at A$1.15 per new share; and A$4.5 million under the Institutional Entitlement Offer at A$1.03 per new share.

The Institutional Entitlement Offer was very well supported with over 98% of eligible institutional shareholders electing to take up their entitlements.

New shares in Molopo equivalent in number to entitlements not taken up and those of ineligible institutional shareholders, were sold by way of an accelerated bookbuild process(Institutional Bookbuild) on 17 March 2010, that cleared at a price of A$1.15 per New Share.

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