RE:OPEN FORUM:30MAY2014 MNP STATE OF THE UNION ADDRESSAre you saying that they were lying in this news release on Mar/07/2014?
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MNP is currently creating a consortium consisting of financing and operational entities for its ongoing activities in Tajikistan. The consortium should be finalized before the first exploration well is spud which is presently scheduled to commence at the beginning of the third quarter of 2014. MNP's Tajikistan affiliate CSJC Somon Oil (who owns a 100% interest in the Tajikistan exploration project and is 90% owned by MNP through its wholly owned subsidiary DWM Petroleum AG) is in the process of ordering the long lead items and additionally is in discussions with two parties regarding moving a drilling rig onto the site of the first well.
To bridge the forming of a consortium, MNP will be using the majority of the proceeds out of the sale of its PMI shares for the implementation of the Tajikistan work program.
In conjunction with its Tajikistan exploration licenses, MNP has had an Independent Resource Report prepared in respect of its two exploration licenses in Tajikistan. The results of which reflects an increase in the projects overall resource base. As a side note, this report includes contingent resources which are part of a field outside of the present license and which is partially developed. The overall report underlines the prospectivity of the block.
Currently MNP is preparing the drill site for the first exploration well in the Tajikistan exploration project. Kayrakkum B is presently scheduled to commence drilling operations at the beginning of the third quarter of 2014 and is an analogue of a field which is located up-dip from it.
From: https://web.tmxmoney.com/article.php?newsid=66248505&qm_symbol=MNP