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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 Dec 01, 2014 1:48pm
86 Views
Post# 23181819

RE:Drilling of MNP Prospects.....

RE:Drilling of MNP Prospects.....
Also, I believe that once the rehab closes, MNP will be entitled to receive their working percentage payments going all the way back to the beginning of this year.

From the 10-Q:

"Furthermore, the Supplement Agreement outlines that Kavsar shall transfer all shares of TF Petroleum AG, a company incorporated under the Laws of Switzerland for the purpose of this transaction to DWM Petroleum, for a consideration of CHF 100,000 (approx. USD 111,656). DWM PETROLEUM WILL THEN BE ELIGIBLE TO FUTURE PROFITS AND DIVIDENDS FROM ENERGY PARTNERS AUSTRIA FROM JANUARY 1, 2014 ONWARDS.

May not be much at this point, ...but who knows. Maybe that will be a nice additional cash windfall coming our way, ...in addition to any ongoing and increasing cash flow going forward, as further work programs are implemented in the rehabs fields with Vagobel's funding!


jmo
Bullboard Posts