Legacy paid $ 235,000 per flowingbarrel of oil to buy Molopo.
Australia's Molopo sells Canadian oil project for $189 millionSydney (Platts)--2Feb2011/132 am EST/632 GMT
Australia's Molopo Energy has agreed to sell its Spearfish oil project inCanada's Manitoba province to Calgary-based Legacy Oil & Gas for around C$188million ($188.6 million) in cash and shares, the company said in a statementWednesday.
Spearfish was producing 800 b/d of 36 degree API crude oil at the end of2010. The project has 9.1 million barrels of proved and probable reserves