Molopo said the rise, from A$36 million, reflected its confidence in the Fiesta project, which targets Wolfcamp sands in the south of Texas’ Permian basin.
Including provisions for land acquisitions and seismic studies, the 2012 capital programme will be funded by cash and internally generated funds, the company said.
But this had led Molopo to halt an on-market share buyback in light of the expanded capital programme and anticipated future funding requirements.
The
