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MNP Petroleum Corp MNAP

MNP Petroleum Corporation is engaged in the business of exploring for oil and gas, primarily in Central and East Asia. The Company is involved in the exploration projects in Tajikistan and Mongolia. The Company has a working interest in over oil fields located in the Fergana basin in Tajikistan. The Company carries out its operations both directly and through participation in ventures with other oil and gas companies. As of September 30, 2015, the Company has not commenced planned principal operations. The Company's subsidiary includes DWM Petroleum AG (DWM). DWM holds an equity interest in CJSC Somon Oil (Somon). Somon owns interests in approximately two Petroleum Exploration Licenses, which include Zapadnyi (West) and Severo-Zapadnyi (North West) blocks, onshore Tajikistan (Somon Licenses). Somon Licenses cover an area of approximately 840 thousand acres (over 3,396 square kilometers).


GREY:MNAP - Post by User

Bullboard Posts
Post by JS4900on Feb 21, 2015 3:38pm
90 Views
Post# 23451516

Progress...

Progress...
On a more positive note, at least there has been some progress made recently. They got the exploration license extended, and finally closed on the rehab properties.

So even if things don't go through with Vagobel for whatever reason, they still have the opportunity to farm-out the exploration license. Plus, they could get to work on some of the 'low-hanging fruit' in the rehab areas, and hopefully get some cash flow rolling in.

Even so, I still think it's likely that the Vagobel deal will in fact go through, ...(even if it needs to be modified in some way).


jmo
Bullboard Posts