Marion Energy Limited is following a low risk strategy of pursuing gas reserves and associated production in the Rocky Mountains and Mid-Continent regions. The Company’s activities are generally within the geographic confines of or adjacent to known production and within easy access of existing pipeline infrastructure. We have been able to accumulate an enviable lease position where the company is undertaking a highly successful development drilling program.

Favorable long-term industry fundamentals and advances in drilling, completion, and fracture stimulation techniques have allowed the Company to pursue several attractive projects in Utah and Oklahoma. Based on a recent independent report by MHA Petroleum Consultants, Inc., Marion has 243 BCF in proven, probable and possible reserves. The Company currently has a substantial inventory of drilling opportunities - over 240 driling locations identified in the Clear Creek and Helper fields and over 300 additional prospective locations - which gives our investors exposure to significant reserve upside. Complementing this Marion controls field operations associated with large acreage and working interest positions.

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Marion Energy Limited (ASX:MAE) SPP to Close Early on May 4 2011
03 May 2011 05:59 PM

SPP to be Closed Early
The Directors of Marion Energy Limited (ASX: MAE, MAEO, MAEOA) have determined to bring forward the closing date of the SPP from 6 May 2011 to 5.00pm (WST) on Wednesday 4 May 2011.
The Directors have been more than satisfied with the response from shareholders. Funds raised through the SPP will be applied to the ongoing successful well work-over program at the Clear Creek field, Utah.
If you wish to apply for shares and your payment is being made by Bpay®, your payment must be received by no later than 4pm (WST) 4 May 2011. Applicants should be aware that their own financial institutions may implement earlier cut off times with regards to electronic payment, and should take that into account.
If you are paying by cheque, bank draft or money order, the acceptance slip must be received by no later than 5pm (WST) 4 May 2011. To avoid disappointment, please allow sufficient time for that to occur.
Any payments received after the closing date will be refunded in full as soon as practicably possible after the closing date.
The amended key dates are:
Offer Closes - Wednesday 4 May 2011 at 5pm (WST)
Allotment of shares - on or around Wednesday 11 May 2011
Despatch Holding Statements - on or around Thursday 12 May 2011
Note: All dates are subject to change at the discretion of the Company

Contact Information

Phone: +61 3 8862 6466
Suite 3, Pacific Tower, 737 Burwood Road, HAWTHORN, NSW, AUSTRALIA, 3122