Perth's "consummate cash cowboy" (as this newspaper described him in 2002) Farooq Khan is at it again, this time bearing down on cashbox Molopo Energy.

The minnow's market cap is just $42.3 million yet its cash at hand is $67 million, so you can see why Khan and his associates have requisitioned an extraordinary meeting for May 15 to replace three directors with their own and return shareholder value. This is Khan's second attempt, with the NSW Supreme Court having chucked out his attempt to return cash to shareholders in 2014.