Molopo Energy Still in Talks to Sell Its Queensland CSG Asset

Molopo Energy Limited has said that negotiations in relation to the prospective sale of its Bowen Basin Queensland coal bed methane assets are ongoing.

The company said that a number of parties are interested in the asset and these companies are undertaking detailed due diligence.

Negotiations are progressing, however these negotiations are currently incomplete and their outcome remains uncertain, the company said.

The company also said that its planned 2012 North American exploration and development program will be funded from existing cash reserves and is not dependent on any proceeds from a sale of the Queensland assets.