NEWSFLASH - Bagombo Gas Strike (Reuters)

From our economic correspondent in Wanga Wanga

Reports of un-tapped natural gas reserves in the disputed waters of Lake Bagombo have been confirmed by exploratory surveys of islands in the Mjuba Bay area.

Initial survey estimates put the total gas reserves at approximately four million cubic tons. The majority of the reserves are located offshore in territory claimed by both Mbote and Zumata.

News of the natural gas deposits has been welcomed by General 'Papi' Mpongo, President elect of the Peoples Democratic Republic of Mbote (PDRM).

President Elect General Papi Mpongo on a recent visit to a Mbote Mineral Corp gas refinery.

'This is an auspicious day for the free people of Mbote. Our great nation claims the territorial waters of Mjuba Bay as rightfully belonging to the Peoples Democratic Republic of Mbote. We will defend our sovereignty of these waters by whatever means necessary against the predatory forces of Zumata!

Long Live Mbote!

The markets have responded positively to the news of the Mbote governments announcement. The sale of Mbote Mineral Corporation stocks and government gilt bonds has trebled while the exchange rate has markedly shifted, with 1 Dollar (US) equivalent to 456,678,000 Banana (Mb).

As yet there has been no response from President For Life Dr Kenko Gold of Zumata but sources close to the government have indicated that an official press release will be issued very soon.