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Molopo Energy Limited (ASX:MPO) Quarterly Activities and Cashflow Report for March 2011

Quarterly Report March 2011
 
 Highlights
- Molopo finalises sale of Spearfish oil asset for C$188m
- Molopo’s new strategy released to the market subsequent to the end of the Quarter
- Changes to Board and Management implemented
- Major reserves upgrade for Queensland acreage, 2P reserves increased 57%
- Timmy area Petroleum Lease Application No. 447 acknowledged by Queensland Government
- Cash reserves of approximately $106m, plus C$91 million of shares in Legacy Oil +Gas Inc, at the end of the Quarter
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