Cuda Oil and Gas Inc V.JNX

Junex and Molopo Tie - Feb news release

[ironman311]

Junex and AMQUE U.L.C. had contracted the Exploration Partnership in July 2006. Since AMQUE U.L.C. failed to meet its minimum investment commitment, the parties terminated the Joint Venture and, in the context of this Termination agreement, Junex has received a financial compensation from AMQUE. Junex also kept an Overriding Royalties Interest of 1.5% in 1.8 million acres of land previously held by AMQUE and recently sold to Molopo Australia Limited.

"We are pleased to get back all the lands which were part of the deal with AMQUE and we are also pleased with the arrival of Molopo Australia Limited in Quebec. We believe that Molopo's expertise will enable them to accelerate the development of the Shale gas potential in the 1.8 million acres block of land in which we hold a 1.5% ORRI. We already have another active partnership with a Large US-based Independent producer in order to evaluate the Shale gas potential in Quebec and we now believe that we will be able to sign new favorable partnership agreements on these 700,000 acres of land we are getting back today" noted Junex's president, Mr. Jean-Yves Lavoie, P. Eng

ps.  Molopo up 25% in last week in Australia.  Some brave soul just bought 1000 shares in the US bring the US listed price to $1.75 up 28%.  Molopo is still a deep value play