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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
Comment by JS4900on Nov 22, 2014 3:04pm
119 Views
Post# 23155268

RE:Deal Closing this Week??

RE:Deal Closing this Week??
MurrayMac: Yes, I was thinking the same thing. The announcement of the deal, and then the subsequent delays, seem to have corresponded rather well with the sudden and dramatic downturn in the oil markets.

From the PR announcing the deal:

"About Vagobel"

"Vagobel is currently investing in companies in the upstream industry and are CURRENTLY involved in opportunities in the Middle East and Africa."

"Upstream" ...meaning oil and gas exploration and production.

So I certainly think it's possible that Vagobel may have been caught 'holding the bag' on some of their other investments, thereby causing a change in their financial status.

This could have resulted in liquidity issues that left them having to re-arrange or divest other, potentially less liquid assets (real estate, etc.) in order to close the MNP deal as originally envisioned.

Like you said, it's just speculation, but a very plausible reason for the delay.


jmo
Bullboard Posts