Molopo Energy seals PetroChina deal

Company News

Molopo Energy Limited (ASX:MPO) has finalised the sale of its Bowen Basin coal seam gas assets in Queensland to PetroChina Australia.

The junior oil and gas explorer inked a deal to sell the assets earlier this year as it moves to focus on its unconventional North American oil assets.

PetroChina intends to secure 100 per cent of the gas supply for its acquired LNG project at the Port of Gladstone in Queensland.  

Molopo booked a net loss of $63.6 million in the 2012 financial year.