# ODE - Odessa Minerals



## Ann (14 January 2006)

Company Name:   Marion Energy Ltd
 ASX Code: MAE
 Shares Issued: 	 160,106,552
 Market Cap: 	 96.1 Million [as at 13/1/06]
 52-Week High: 	 0.60 on Thursday, January 12, 2006
 52-Week Low: 	 0.185 on Thursday, May 19, 2005
 Average Price: 	 0.3967 (50-day)   0.2874 (200-day)
 Average Volume: 	 867,100 (50-day)   953,900 (200-day)
Principal Activities:  	Mineral exploration in Papua New Guinea.
Official Listing Date:  	3 July, 1986
Internet Address:  	http://www.marionenergy.com.au


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## Knobby22 (23 January 2006)

*Re: MAE - Marion Energy*

Good call. 66c now.


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## Cyph (28 February 2006)

*Re: MAE - Marion Energy*

Been holding this once since it was formerly CPC.

New 35 well drilling program in Utah after raising ~$4 million from a Swedish investment firm, allows them to drill double the initial planned amount of wells before the year end, 3-4 wells a month on average... should boost their cash flow and help increase their natural gas reserves and become a takeover target - why else the name change other than a corporate clean up?

Marion's gas reserves are steadily growing... they may have 1TCF gas, which would justify a takeover price of $4-600 million when 3P reserves are given a figure of US$2.58/mcfe and proven gas reserves given $US3/mcfe.

My target is $1.60+, just gonna ride it for all it's worth.


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## mick2006 (11 September 2006)

*Marion Energy (mae)*

Just wanting to know if anyone has any views on this stock, have already made a tidy profit on it, it has just started to look very interesting.
Will complete 38 natural gas exploration wells before years end and 120 within the next 3 years, which could confirm the existance of a large natural gas resource of 750 bcf.

At current share price will be trading at a p/e of less than 2 within two years.


Any Thoughts?


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## KIWIKARLOS (13 November 2006)

*Re: MAE - Marion Energy*

I bought at 76 c a few months ago as a medium term share.
I recently heard that an informal take over offer of approx $2 had been kicked back. After what happened to QLD gas recently there is certainly potential for it to climb, but im not sure of the value of their potential reserves. 

Perhapes it will increase after they bring wells on line next year?


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## afroboy (14 November 2006)

*Re: MAE - Marion Energy*

Hi KIWIKARLOS,

Can you please shed some more light on the take over offer?  $2 would be a good price.  I've been holding this one for almost a year...


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## KIWIKARLOS (15 November 2006)

*Re: MAE - Marion Energy*

I cant completly verify the offer, But i have an aquaintance who is a large share holder of the company and follows it religiously. He went over to america not that long ago to see the companies projects for himself, I dont know how or if he got the info but he stands to either gain or lose alot.

Does anyone know the value of 750 Bcf of gas at current prices?


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## KIWIKARLOS (9 December 2006)

*Re: MAE - Marion Energy*

These guys SP went up almost 7% in the last 10mins of trading on friday after little movement for the last couple months, possible a sign of something to come.

Any thoughts/news?


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## adobee (18 December 2006)

*Re: MAE - Marion Energy*

I dont know much about this company.. but continue to hear positive feedback!


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## KIWIKARLOS (18 December 2006)

*Re: MAE - Marion Energy*

Same here, I actually know a few guys who combined have millions of shares. A couple of them travel over to america to check out the progress.

I was speaking to him last week and he said a independent report was about to come out which recommended a buy up to $6   

I dont know how true this is but I hold a small amount.
Apparently the company directors strategy is to build up proven reserves then sell it off?

Do you know anything about them?


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## afroboy (16 January 2007)

*Re: MAE - Marion Energy*

A large buyer at 70c (over 400,000 shares) got taken out just before the close today... a good sign, but other than that buy side looks weak.

Apparently a drilling update will be released soon.  Hopefully we get some flow rates this time   

An analyst recently indicated that MAE could be worth up to $13 based on gas reserves.

I'm happy to sit on my holding and see how the story pans out...  

An eventual takeover at $6 would be very nice


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## KIWIKARLOS (23 January 2007)

*Re: MAE - Marion Energy*

I've been on this Donkey for over 6 months watched it hit the 99c mark and held thinkin it has legs to go further   

I've seen a couple reports now and heard lots of info from "people in the know" but nothing has eventuated.

I will continue to hold but feeling disillusioned, I believe they now have an income but these wells need to really start producing before i can see this going anywhere

Does anyone know any financial details we can expect in the next month or two?


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## pepy (18 February 2007)

*Re: MAE - Marion Energy*

There is an interview with one of the Directors (Peter Collery) on the Boardroom radio website, from around Feb 7th. 
He said they expected to be producing within weeks from then (I think three weeks from memory).

There is also an analyst report (Tricom) on the Marion site from June last year, which had predictions of revenue for this year which lines up reasonably closely with their current progress. Tricom expected $4.2 mill revenue for this year, and Peter Collery was predicting revenues of between $20,000 to $30,000 per day once production begins.

Tricom says next year is the big one, with revenue predicted to rise to +$70mill, based on continuing drilling & more wells coming online.

Hopefully their next report (presumably within 4 weeks) will move the 3-4 wells that have been "testing" to production, so the revenue can begin to flow.

In the meantime, we have to survive the potential 44million options coming on to the market by March 30th (roughly 20% more shares than currently issued).


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## KIWIKARLOS (19 February 2007)

*Re: MAE - Marion Energy*

Good announment today, what is the go with the options? are they options due to expire soon?

Surely if people have to pay the exercise price they are goin to raise alot of cash from the options, still that is alot of new shares. Does anyone know the exercise price?


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## Share Bear (19 February 2007)

*Re: MAE - Marion Energy*

The Exercise price is 0.25 and ex date is 31st March 2007.


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## KIWIKARLOS (19 February 2007)

*Re: MAE - Marion Energy*

So 44 million options at .25c each = $11 Mill 
Does that mean that everyone who has these options will either have to pay out the 25c per share or lose the option?
There for the company raises $11 mill straight away?


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## pepy (19 February 2007)

*Re: MAE - Marion Energy*

Today's announcement says 9.8m cubic feet of gas per day, attributable to Marion. Correct me if I'm mistaken, but if this is stable once production begins, at a price of about USD $7.50 per thousand cubic feet makes a total of some $26million annual revenue to them (assuming continuous production).

The only potential fly in the ointment is how quickly they can be brought to production - which our friends at Marion say is 3-6 months for all of them to be online. Tricom estimated $4.2 million revenue this year, which looks within reach, provided they can clear the gel in the Helper wells - with the first one  being treated now.

They seem to be delivering pretty much on their promises.

Comments please?


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## Traveller (18 March 2007)

*Re: MAE - Marion Energy*

Announced a 5mcf gas flow on 7 Feb and SP has gone from .65 to .58. Isn't it suppposed to work the other way??
Seem to be way behind in drilling program. Fewer wells and slow completions.
Any ideas on this.

Also is gel treatment straight forward or high risk. ie flow will not improve.
Any experts out there?


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## adobee (26 March 2007)

*Re: MAE - Marion Energy*

Seems to be a substanial increase in trading today after a somewhat downward trend..


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## KIWIKARLOS (26 March 2007)

*Re: MAE - Marion Energy*

This baby will finally take off now.

No options hanging over the SP aand 11 wells all starting to come online and make big bickies. Alot of which will go back into drilling the other 180+ wells but will surely be a TO target once reserves are proven and cash flow guarenteed.

I've only being waiting 9 months:


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## Traveller (26 March 2007)

*Re: MAE - Marion Energy*

Investor presentation released on 23-3-07 says nothing new. Just the same old "we have prospects".
Getting sick of waiting for this one...but....., it has to be more than a maybe.:dunno:


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## KIWIKARLOS (26 March 2007)

*Re: MAE - Marion Energy*

Well now that it is spring in the us they can proceed alot quicker with the bringing on line of wells. I hope once they have gas flowing consistantly and have proved the possibities then we should see gains. Also remember they won't be issuing any more shares to pay for expansion since they have a 20 Mill revolving credit arrangment. 

I see the current wells as being a demonstration of project feasability.


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## adobee (5 April 2007)

*Re: MAE - Marion Energy*

AMP have announced that they are no longer a substanial share holder of MAE this morning.


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## Traveller (5 April 2007)

*Re: MAE - Marion Energy*

No suprise there. They have taken a substantial profit. Those still in under A$0.80 will to if they hold. No gas sales means no cash. Gas sales means cash. How does US$30m pa sound? Do the numbers. Sounds like a SP over a dollar to me.


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## adobee (5 April 2007)

*Re: MAE - Marion Energy*

Those still in under 0.80c will? You can buy in under 0.80c for the past year and most probably next year?


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## KIWIKARLOS (11 April 2007)

*Re: MAE - Marion Energy*

Since the options expiry this baby has had almost constant consistant daily gains.

Got a 11.5 M dollar boost from option take up of 98% and are starting to ramp up production in the next few months.

Clearly broken downtrend.


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## Traveller (11 April 2007)

*Re: MAE - Marion Energy*

0.76 without announcing any new gas flows from the 3+1 wells due to be tied in. Will a $30m. p.a. add to the cash flow make a difference??

I think so. Do the numbers!! They are all there. Demand, supply, concentration, futures, flows!! Anyone who wants to sell me MAE at 0.75 next year, please don't talk to anyone else. 
Cheers


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## adobee (26 April 2007)

*Re: MAE - Marion Energy*

April 2007 update looks positive with intention for production in 3 months.


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## KIWIKARLOS (23 May 2007)

*Re: MAE - Marion Energy*

These guys look to be gaining some ground up 8% today with good volumes and much stronger since the option expiry a month ago.

Now have about 15 wells tied into production with big reserves, I think we could see some big gains in this one in the coming months, I've been on it for a while.

Would somebody with some good analysis skills be able to do a quick valuation based on proven reserves eg P2 etc and maket cap?


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## KIWIKARLOS (24 May 2007)

*Re: MAE - Marion Energy*

These guys have broken their downward trend now posting good volumes and consistant gains

current market cap a little over 200mill but potential projects worth 600 Mill short term, 

Already have 11 wells in production from 1-5 m cubic feet per day with another 6 soon to be completed.

CHECK IT OUT FOR YOURSELF !


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## Traveller (24 May 2007)

*Re: MAE - Marion Energy*

Looks good. All this with no hard data.  Huge sales the last two days. Maybe someone has worked out how to value the company. Any ideas??


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## KIWIKARLOS (29 May 2007)

*Re: MAE - Marion Energy*

These guys are killing it their all time high and low has been in the last 2 months.

Blue sky from here, wait until financials come out for end of year. It'll be huge.


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## Traveller (29 May 2007)

*Re: MAE - Marion Energy*

Two broker reports but still no gas. Price has to go up when and if they announce Clear Creek flows. The investor report on the ASX announcements makes interesting reading. Supposed to be an independant reserve report coming out at the end of July. Yew, it does look like blue sky.


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## adobee (29 May 2007)

*Re: MAE - Marion Energy*

Fair increase in activity this morning at around 95c.
I understand it has been written up as having 12 month target of 1.45 by some advisory newsletters and morning notes on 24th may 2007.
An independent report is due in July 2007 demonstrating nature of reserves, and an reserves certificate report.


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## Roadster (30 May 2007)

*Re: MAE - Marion Energy*

Marion is finally getting some attention. In my opinion it is well deserved. Company is still not understood.

There has been significant recent insider purchases: 

http://www.asx.com.au/asxpdf/20070516/pdf/312h2q0r38w1gl.pdf 
http://www.asx.com.au/asxpdf/20070508/pdf/312c9twn3b4cbk.pdf 
http://www.asx.com.au/asxpdf/20070508/pdf/312c53mlm5qnc2.pdf


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## Traveller (30 May 2007)

*Re: MAE - Marion Energy*

Not understood!!! Maybe that is because they have BA cash flow and supposedly lots of gas. Looking forward to an announcement of substance. So far ALL announcement have been smoke and mirrors.


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## Roadster (31 May 2007)

*Re: MAE - Marion Energy*

Analyst Report Patersons (Australian) 


Real Assets--About to see real earnings 

May 22, 2007 

"We estimate that MAE is sitting on a large gas resource ( 200+ BCF) at Clear Creek, and circa 50+ BCF at Helper. U.S. market transaction data confirms why MAE is an asset play---and should MAE be successful in redeveloping Clear Creek/Helper/Jester Bloomington---it could have net reserves (2P) of 300+ BCF. Based on market transactions--MAE could potentially be worth around $ 800M ($2.70 share plus). 

We have also compared MAE to its Australian listed USA operating peer group (page 14). In terms of earnings, we are looking for A$108m on revenue line in FY 2008. NPAT of $ 39.8m, with EPS of 15----fhis places the stock on 4.1 times earnings. Relative to others Aussie's in the U.S.--the stock looks very good value." 


Write-up 
http://www.investorvillage.com/smbd.asp?mb=969&mn=7012&pt=msg&mid=2207691


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## Traveller (31 May 2007)

*Re: MAE - Marion Energy*

Thank you Roadster. Looking good. All time high today of A$1.01 suggests smoke is clearing. Still waiting for the CC gas report. How long can it take to connect a 70ft pipe to cash flow!!


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## adobee (31 May 2007)

*Re: MAE - Marion Energy*

Alot more interest today. I have sold half my holdings at $1 but may buy back in dependent how the market goes tomorrow. There has been a sharpe spike in interest but no real back up or changes to justify such a large increase of about 50% in a month..


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## adobee (5 June 2007)

*Re: MAE - Marion Energy*

Mae continues to break out with all time highs. $1.35 this morning..   I think alot of people will be selling at about $1.45


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## KIWIKARLOS (5 June 2007)

*Re: MAE - Marion Energy*

I cant believe the lack of interest in these guys from other aussie members.

Looks like they have missed out on some stella gains. 

1.45 will be a sticking point. After all they are earmarked to start making big after tax profit from now on..


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## Roadster (5 June 2007)

*Re: MAE - Marion Energy*

http://finance.yahoo.com/q?s=MAE.AX

Hard to believe people would bail so early on this. I guess people just do not get it at all. Oh well. Others do.


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## adobee (5 June 2007)

*Re: MAE - Marion Energy*

roadster ..  you posted a link is this supposed to go to somewhere or just for me to pay the $20 to get the report.. Give us a summary of what it says..

I am out early as i got it at about 50c and had written some rules for when i would sell however am now thinking of buying more.. I am just worried as to how long it can keep pushing up..  and if this report is not favourable we could be looking at 55c again..


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## KIWIKARLOS (5 June 2007)

*Re: MAE - Marion Energy*

hahahahahahahaha
keep dreaming mate 55c is looooooooooooooooong gone.

I'm spewin I was holding for 11 months and 23 days and sold at 93 to find a few days later it was at $1.20 

Fortunately I got back in at $1.06 but now I pay 100% capital gains


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## Sean K (5 June 2007)

*Re: MAE - Marion Energy*

Guys, throwing around price targets here with hardly a shred of analysis to back them up is fraught with danger. Please use some FA and/or TA to justify any price targets. Because it's going to 'start making money' is not justification, nor is 55 cents because it's an all time low.  If you are being humorous then you need a  after your target so we know to ignore it. Thanks, kennas


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## Roadster (6 June 2007)

*Re: MAE - Marion Energy*

The analyst report talks about $ 2.70 share and you guys are out at $ .93. The analyst report is on Marion's website. This has only begun. Marion is all cashed up. Reserve report will tell the story.


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## KIWIKARLOS (6 June 2007)

*Re: MAE - Marion Energy*

Yes the reserve report will be interesting to say the least, I believe its expected to be out in the next few weeks. I'm thinking of topping up again pre announcement.

My PREDICTION (not sure if i can make this without breaking rulz, sorry moderator if i do )

The reserves will be greatly larger than previously thought. The rock that holds the gas apparently from company reports holds large amounts of gas i think it was 70-80% saturated but very tight rock formation. Once fractured we could see big increases in flows especially since some are already at 5 mill CFPD.


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## Roadster (24 June 2007)

*Re: MAE - Marion Energy*

Wow $ 1.64. Is everyone happy? Did you all bail long ago? Oh well. Flippers will not be rewarded. I heard that we may have another analyst report. Anyone hear about one?


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## afroboy (24 June 2007)

*Re: MAE - Marion Energy*

I'm still holding and will be for a long time to come if the reserves report is as good as expected and flow rates are sustainable.

The thing that I am nervous about is whether or not the flow rates are going to be sustainable when all wells from the same pad are online.


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## adobee (24 June 2007)

*Re: MAE - Marion Energy*

i bailed on MAE at $1.20 entry was 60c i really thought it was going to hit some resistance and come back down somewhat, I left a buy in at $1.50 on friday morning but it keeps going up.. (the only good for me is that i also hold it in my stock tipping comp portfolio unfortunately no monetary rewards here). I think I will get on pre there report coming out, does anyone know when this is actually going to be ?


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## KIWIKARLOS (25 June 2007)

*Re: MAE - Marion Energy*

I've heard that we can expect a resource upgrade, don't take my word for this but im holding on for that. The fact is that back in the day when these fields were operating they didn't have the same fracture and stimulation tech that we have these days. These formations are extremely tight and hold large amounts of gas, so the anticipation is that there will be good flows. 
Last ann reported one well at over 5 million cubic feet a day, i reakon we can prob expect at least a couple more of these. Also apparently some company just bought land adjacent to MAEs at a price tag of 2.2 Bill

There appears to be some manipulation of this stock, at the end of everyday it gaps up alot then after 4 somebody puts ridiculously low sell on for 497 shares. I've seen it happen many times now. Most of the time it doesn't work but a couple times it has significantly driven down the closing price?

I can only think of one reason to do this.


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## KIWIKARLOS (25 June 2007)

*Re: MAE - Marion Energy*

hahahahah well looks like my source was right.

Big resource upgrade with potentially more to come. These guys had an independant report say that if all goes to plan they could have $140 mill profit next year. 

Go MAE


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## adobee (25 June 2007)

*Re: MAE - Marion Energy*

Yes looks promising, I have re entered this morning ? Looking at comsec it says high today was $1.83 was this at the open this morning ? Considering the anticipation on this report you would think they may have gone to a trading halt ?


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## KIWIKARLOS (25 June 2007)

*Re: MAE - Marion Energy*

yeah i bought more this morning there was an initial spike followed by a retract now a steady climb.

I think the real big gains will come with the half yearly report that will more than likely show the start of gas profits. I have spoken to large holders of MAE they tell me the companies plans was always to prove up reserves establish a revenue stream then hope for a buy out from one of the big boys.


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## Roadster (25 June 2007)

*Re: MAE - Marion Energy*

<<<I have spoken to large holders of MAE they tell me the companies plans was always to prove up reserves establish a revenue stream then hope for a buy out from one of the big boys.>>>>

What price buy out? If they have $ 140 million of cash flow what would that be? Where did the $ 140 million of cash flow come from? Wow


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## KIWIKARLOS (26 June 2007)

*Re: MAE - Marion Energy*

Mate read the pattersons report on MAE available at their website. It was a buy recommendation when they were 60 c. But it states:

With net reserves of 300+ BCF MAE could potentially be worth $800m or $2.70 a share.

The 264 BCF they just announced is very close to this with alot more potential to increase these reserves further.

I wilkl have to correct myself on the profit figure i quoted: The revenue they expected was $105 Mill in 2008 with NPAT of $40 Mill.


It also shows that back in the day there were estimatd reserves of over 1300 BCF at clear creek and of that about 150 BCF was produced and that there is a very real chance that MAE will have potentially another 550+ BCF in reserves.

Thats takes MAE to potentially $6 a share!


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## Roadster (28 June 2007)

*Re: MAE - Marion Energy*

CEO Jeff Clarke Interview out today. 


MAE CEO INTERVIEW - AUDIO BROADCAST BOARDROOMRADIO 

You are invited to a front row seat at our presentation titled 2P Large Gas Reserves 



To listen, simply click on the link below: 

http://www.brr.com.au/event/MAE/1892/24746/wmp/cks0zxut6f 


The presentation details are as follows; 
.. 2P Large Gas Reserves Evaluated 
.. Presented By Jeff Clarke, Managing Director and CEO 
.. 27-June-2007 at 10:00am


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## KIWIKARLOS (28 June 2007)

*Re: MAE - Marion Energy*

Mate i dont know who your trading with but that was released yesterday.

The director pretty much confirmed that he is more interested in proving up the resource and selling to a big player rather than getting production online.


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## bazzah (28 June 2007)

*Re: MAE - Marion Energy*

well having had the shares for 8 years it will be nice if they can pay a dividend this year !!!!!!!!!


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## KIWIKARLOS (20 September 2007)

*Re: MAE - Marion Energy*

I doubt you'll ever get a dividend out of these guys the company is based on proving a resource then selling it. By the look of their recent wells they may have a few barrels of oil to sell along with their gas.


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## Roadster (2 October 2007)

*Re: MAE - Marion Energy*

Well it is halted for news. Anyone still owns Marion?? Seems everyone has been interested in exiting. Big mistake IMHO.


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## KIWIKARLOS (2 October 2007)

*Re: MAE - Marion Energy*

yeah i still hold hoping that the pending placement actually drives down SP so i can pick some more up at a bargin. We'll see what happens, but very promising gas shows.


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## adobee (15 October 2007)

*Re: MAE - Marion Energy*

*The following was announced today.. From my reading of this they expect to have RR 8-19 and the RR 1-30 online &  in production in the next month ?*



Ridge Runner 1-30 well at Clear Creek, Utah reaches total
depth with strong gas shows.
Marion Energy Limited (ASX: MAE) is pleased to announce the following report with regard to wells being drilled at Clear Creek, Utah.
The Ridge Runner 1-30 well (“RR 1-30”) at Clear Creek, Utah has reached its
planned total deviated depth of 7100 feet. The well was drilled from the same drill pad as the RR 11-20 and the RR 8-19 wells which were shut in while the new well was drilled. During drilling of the well, very strong gas shows were encountered in the Ferron and Mancos (Bluegate) Shale horizons. As such, this well appears to further confirm the significant resource discovered in the previous five Ridge Runner wells and two Alpine School District wells drilled on the Company’s acreage at Clear Creek. Like the RR 8-19, during drilling of the RR 1-30 there was an oil show in the Emory horizon, located at approximately 1800 feet. Testing and further exploration will be required to determine its significance, including drilling a specific well targeting this zone.
It was originally intended to drill one more well from the RR 11-20 pad, but the
Company has decided that a focus on the speedy completion and tie-in of the three wells already drilled at this pad would be more beneficial to Marion, due to the impending onset of the winter season with expected high gas prices. Marion has therefore decided to move the drilling rig to a new location 2 miles south of the Alpine School District wells and will proceed to drill 2 wells from this location. The RR 8-19 and the RR 1-30 are scheduled to be fracture stimulated and completed within the next two weeks. After a cleaning-up period, the three wells on this pad will be put on production as soon as practical. The gathering/pipeline infrastructure for these wells is already in place.


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## KIWIKARLOS (15 October 2007)

*Re: MAE - Marion Energy*

yeah mate they are looking very good still would like to know who got the shares recently placed. I can't believe how little this company gets talked about on this forum  its got so much potential and short to medium term outlook is awesome. The Pato's report that came out a while back said a SP of around $2.40 if everything went to plan, and now it looks like they might exceed those expectations. Word is Patos might have bought a big chunk of the placement.

Wish i held more still cheap i reakon but the placement is prob keeping the sp lower than it could be.


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## adobee (26 October 2007)

*Re: MAE - Marion Energy*

The RR 8-19 and the RR 1-30 are scheduled to be fracture stimulated and
completed within the next two weeks. After a cleaning-up period, the three wells on this pad will be put on production as soon as practical. The gathering/pipeline infrastructure for these wells is already in place.


Looking forward to an announcement regarding these well coming onto production shortly...


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## adobee (1 November 2007)

*Re: MAE - Marion Energy*

Just over two million shares traded today which is a reasonable amount for MAE and back up to $1.09 (actually the price where I bought my last parcel thinking this was about to take off) with the increase in volume this afternoon I wouldnt be surprised to see some further info coming out tomorrow or next couple of days regarding completition of the wells and commencement of production..


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## adobee (5 November 2007)

*Re: MAE - Marion Energy*

Intresting move announced today with the assett swapping I cant see to much wrong here..   I hope they start getting some cash in shortly though..


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## KIWIKARLOS (14 March 2008)

*Re: MAE - Marion Energy*

Well its been a while now since any news and the anticipated resource upgrade / production ann is overdue.

They should have up to 30 wells on line at the moment and producing going from their previous announcments. If they get good flow rates say 3-5 MCF per day then that could very easily equate to 50+ Mill in revenue PA. Done a few calcs with revenue of $50 M PA there PE is 4 the market average PE is 12-13  So hopefully with good news we could see significant re-rating.

Anyone else following these guys ? There has been alot of suss trading over the last month or so heaps of small parcel buys / sells at small time intervals, not quite sure if it means anything.


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## KIWIKARLOS (25 March 2008)

*Re: MAE - Marion Energy*

Another Pato report out with buy up to $1.32.

Based on increased reserves, gas prices and verylikely production in short term. They also state it could be much higher. Bring on the good news


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## adobee (6 June 2008)

*Re: MAE - Marion Energy*

Announcement Today -
_
• Normal field operations have resumed at the Clear Creek and Helper projects.
• Natural gas plants and compressor stations at Clear Creek and Helper fully
commissioned.
• Gross production and sales volume currently ranging between 3 and 6 million cubic feet of gas per day (and increasing) at a current average sales price of $US10 per mcf.
• On target to achieve a level of 20+ million cubic feet per day from current wells._

Can someone who know abit about gas tell me approximately how much profit would be on $10 per mcf getting the gas out and moved and if tehy are doing 3-6 million cubic feet of gas per day mmcf what this equates to per day in $


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## prawn_86 (6 June 2008)

*Re: MAE - Marion Energy*

Hey Adobee,

I am relatively new to this sector also (see BCC thread).

My understandings are as follows:

Gas is sold per thousand cubic feet (tcf).

So 6mcf = 6000 tcf.

Price on market is about $10 per tcf. So that means about $60k per day minus costs.

Costs vary a hell of a lot, depending on the well, onshore, offshore, piping, infrastructure etc etc.


Someone else please correct me if im wrong, as i could well be


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## adobee (6 June 2008)

*Re: MAE - Marion Energy*

They state -   $US10 per mcf
Natural gas sales are increasing and have currently reached a combined gross rate between 3 and 6 million cubic feet of gas *(“mmcf”) *per day. Sufficient production has now been established to enable both natural gas plants and compressor stations to be fully commissioned.

_what is the mmcf ??
are they doing 6mmcf * $10mcf 
or 6mcf * $10mcf _




prawn_86 said:


> Hey Adobee,
> 
> I am relatively new to this sector also (see BCC thread).
> 
> ...


----------



## prawn_86 (6 June 2008)

*Re: MAE - Marion Energy*

**** now im confused too lol. 

I will still go with my calc of $60k per day, but obviously the thousand cubic feet bit is wrong.

Someone with more experience care to step in and stop me embarassing myself?


----------



## adobee (6 June 2008)

*Re: MAE - Marion Energy*

*mcf: *Thousand cubic feet as in one thousand cubic feet of natural gas having an energy value of one million British thermal units. A typical home might use six mcf in a month

*mmcf:* Million cubic feet as in one million cubic feet of natural gas

I think you are spot on -

1mmcf = 1000mcf
6*1000 = 6000
6000*$10 = $60,000


----------



## adobee (8 June 2008)

*Re: MAE - Marion Energy*

well i am taking the plunge and picking up a parcel of mae.. i havent held since the last big run where i pulled out thinking it was to hot.. at least i know that when they get interest they get interest !

with reasonable $$ now coming in this has to get re-rated soon..  i know that it was on the watch lists of intersuisse patterson hartleys and some others so hopefully the 10% jump on friday might have caught some attention..


----------



## adobee (12 June 2008)

*Re: MAE - Marion Energy*

Well marion is holding reasonable well considering the rest of the market.. looking forward to an announcement regarding a ramp up of production shortly.. hopefully on a more positive day..


----------



## adobee (17 June 2008)

*Re: MAE - Marion Energy*

Looking very positive today .. I think a break out is on the cards has jumped up 10% to 88c this afternoon breaking through resistance at 80c and sellers are drying up.. 1,000,000 on the buy side 176,000 on the sell ..

... Please lets have a good day tomorrow !!!!!!!!!!


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## adobee (18 June 2008)

*Re: MAE - Marion Energy*

As expected strong open sitting at a $1.005 up another 14% ..
still 1,000,000 on buy side  100,000 on sell.. I wouldnt be suprised to see an institution taking a stake here and a broker upgrade coming out very shortly..  alternatively a real ramp up in production..


----------



## adobee (18 June 2008)

*Re: MAE - Marion Energy*

looks like there will be some resistance at around $1.05 but if we can clear this I think mae might go off the hook ... I am topping up with intention of holding my current stake and taking another with the hope to make 20% on todays buy...


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## KIWIKARLOS (18 June 2008)

*Re: MAE - Marion Energy*

Im still suprised the lack of mainstream interest in this stock its up over 30% in weeks and nobody here seems to be in it.

I actually only hold MAE loaded up at sub 70's in the last few weeks. Undoubtedly they are now heading in the right direction and the fundamental upside is still HUGE!

I still think we could see a buyout for $2.50 + per share in the next 6 months.
We just need the good news to keep flowing.
The big one will be increase in reserves


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## prawn_86 (18 June 2008)

*Re: MAE - Marion Energy*

There is so many profitable undervalued O&G plays on the ASX its impossible to have money for them all. Unfortunately our market just doesnt give them decent recognition.

People would rather chase spec stocks with no income


----------



## adobee (18 June 2008)

*Re: MAE - Marion Energy*

I tend to think the market is starting to take notice of this one.. perhaps not ASFs... Good volume again today and closed pretty well ..


----------



## adobee (19 June 2008)

*Re: MAE - Marion Energy*

Looks like another good day touched $1.25 hanging around $1.15, announcement re appointment of Goldman Sachs to look an maximising share holder value with current income streams.. plus some indication of further reserves being investigated..  I think there may be some further good news coming out soon plus some more big players getting on board..


----------



## adobee (19 June 2008)

*Re: MAE - Marion Energy*

Few people have mentioned to me that todays announcement might just be put out to stop mae getting a speeding ticket over the last few days whilst people are taking a position for forthcoming ramp in production / reserves...
pure speculation but I hope this is the case..


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## dale (20 June 2008)

*Re: MAE - Marion Energy*

Another positive opening... any opinions on what is driving the buying? i think it could be a potential resource upgrade or that fact the Goldman is interested. i've heard they don't really touch anything under $1bn (i.e. the stock is still cheap!)

cheers
dale
(holding)


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## adobee (24 June 2008)

*Re: MAE - Marion Energy*

Marion increases 2P Gas reserves to 319 Bcf of gas following
further acquisitions in Helper and Jester-Bloomington
Projects: Purchase of USA assets from Odyssey
Energy Limited (ASX: ODY)

Well ODY has bennefitted very well from this !!!
Hope there is some good upside for MAE..

I think this company is really starting to move ,, good income streams and taking actions ..


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## cooper208 (24 June 2008)

*Re: MAE - Marion Energy*

Interested in any comment on the near term prospects of this one.

Based on recent announcements they have stated 

* MAE expects to achieve budgeted production levels with minimum near term target of 20m cubic of gas per day.
*a new reserve report will be commissioned after end of June 2008 quarter.
* MAE have identified 700 drilling targets in their prospects
* engaged Goldman Sachs to conduct a review focusing on strategic alternatives. In my words - MAE have engaged GS to shop it around to the highest bidder
* today they announced purchase of ODY share in some gas fields - "this aggregation of interests will simplify in unlocking the value". - in my words - make it easier/cleaner to sell.

based on current m/cap and stated expected minimum of upgrade in reserves any sale price would be multiples of current sp.
-----------------------------
Am I off with the pixies?


----------



## Roadster (25 June 2008)

*Re: MAE - Marion Energy*

Just huge upside from here. Goldman has been hired. Get Ready !! Excellent Patterson analyst report out.


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## Sean K (25 June 2008)

*Re: MAE - Marion Energy*



Roadster said:


> Just huge upside from here. Goldman has been hired. Get Ready !! Excellent Patterson analyst report out.



Can you define 'huge' for us Roadster? What should the company be valued at? That may take a few facts and figures. 'Get ready!!' for what? Is the Pattersons report available to anyone? If not, perhaps you could post the highlights? Cheers, kennas


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## adobee (25 June 2008)

*Re: MAE - Marion Energy*

Thats the latest report from Hartleys I can find 19th June with a $1.53 target..

http://marionenergy.com.au/download.php?id=353


I would like some reports / feedback on the purchase from ODY is this a good purchase, is the price good etc ?

I would like to see an upgrade of $1.53 to.. with current shareprice of $1.30ish if there isnt a substantial upgrade I will consider jumping out and taking some profits for time being ..


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## KIWIKARLOS (25 June 2008)

*Re: MAE - Marion Energy*

They currently have 300 or so BCF of gas, 1P is about 1/3 and 2P 2/3. thats potentially worth about $500 mill now when recent prices have been around $3 1P and $2 2P reserves. The biggest upside is from the reserve upgrade which will follow sustained production rates.

The current reserve estimate was based on decades old production when old technology and well spacing was 1000 acre. They now hav fractue stimulation and other tehniques plus directional drilling. That means that in the rough terrain of clear creek (10000 feet mountains) they can drill multiple wells from the one pad and "drain" a much bigger area. 

At helper they discovered a new producing layer, Pre MAE drlled wells at helper produce about 2.5mmcf of gas per month, the latest one they drilled flowed initially at 1.5mmcf per day! 

There could potentially be between 500 and 1000 bcf increase in reserves (1, 2 and 3 P). 

Gas prices are increasing and a new delivery pipeline is currently in construction and parts online to deliver gas from the rockies to the eastern states. 

With a current market cap around $300 mill we could see 3 - 4 times that of inground assets, I think we could already get decent reserves at 3-6 mmcf per day but if they hit 20+mmcf per day we will see huge gains.

Check out this site for production info etc its behind about 3 months buthas everything about current wells etc

http://oilgas.ogm.utah.gov/Statistics/PROD_CBM_opers.cfm

This company has always had the goal of increasing value then selling after many years it would seem we are near the end which ever way it goes.

PS im in 100% with this baby from 69c after following for 3 years in and out, Im dreaming of buying a nice fishing boat in a couple months


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## KIWIKARLOS (25 June 2008)

*Re: MAE - Marion Energy*

ODY is trading at a good discount compared to MAE seen as its baically a derivative of MAE, with 25 mill shares at $1.25 thats $30 mill, ODY's market cap is $25Mill.

The only problem is ODY desn't have any real prospects of its own now, what happens say if mae is sold and ODY SP peaks when it cashes in. Wouldn't it be hardo sell ODY at this time as there is no real upside potential and a good chance the company will use a least part of the money to build the business? I can't see them paying a dividend


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## cooper208 (25 June 2008)

*Re: MAE - Marion Energy*



adobee said:


> Thats the latest report from Hartleys I can find 19th June with a $1.53 target..
> 
> http://marionenergy.com.au/download.php?id=353
> 
> ...




The 1.53 price target is only for current reserves. MAE are commissioning a new reserves report end June Qtr 2008. Which will see significant upgrades and also with GS shopping them around. Holding for the next few weeks maybe beneficial.


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## adobee (26 June 2008)

*Re: MAE - Marion Energy*

Holding for now as market sentiment seems positive (even if a lack of interest on ASF)..   I think with cash now flowing they may get a bit more aggressive and really start speeding things up bring online extra wells, increase production etc..

there must be some other rumours around, I cant see this many people buying the fact in this market ..


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## KIWIKARLOS (26 June 2008)

*Re: MAE - Marion Energy*

Im a bit confused as to why anyone would even think about selling before the reserve upgrade?

Even if it is way smaller than expected the current SP is justified by what they currently have let alone any increase.


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## adobee (26 June 2008)

*Re: MAE - Marion Energy*



KIWIKARLOS said:


> Im a bit confused as to why anyone would even think about selling before the reserve upgrade?
> 
> Even if it is way smaller than expected the current SP is justified by what they currently have let alone any increase.




When is there a reserve upgrade coming out ..  ?
If it takes a while and interest dies off this could tumble back down as quickly as its gone up...

That said I think we will be set for a week at least as people will hold of any profit taking before the end of the financial year..


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## KIWIKARLOS (26 June 2008)

*Re: MAE - Marion Energy*

They said it will be started at end of this quarter, no doubt goldman will do their own estimation as well.
Basically to book reserves they needed to identify drill targets, prove stabilised production rates and other economic factors. I reakon it will prob be 6 - 10 weeks before the report but in the mean time we can expect more ann about
1. Increasing in prodcution - they did say they were on target to deliver 20mmcf + per day by end of quarter up from the 3- 6 mmcf. I think it may take a bit longer but we will most likely at least see +10mmcf.
2. Sale of oklahoma assets - They may still sell seperatly or wait and sell the whole company but Oklahoma looks more advertising now that they have a much bigger area thanks to ODY's land.

I reakon Pato's will up their target once we get more of these milestones achieved, either way I personally don't think MAE will exist by Xmas. 

I got a lot of this info from talking to directors and other large holders everyone seems to be very optimistic. My personal price target is $X, I many people believe it culd even go beyond that


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## cooper208 (29 June 2008)

*Re: MAE - Marion Energy*

Article from deal.com on the 19/06/08

After recovering from a slowdown that followed an onslaught of severe weather, gas explorer and producer Marion Energy Ltd. is considering a sale and is already in talks to sell its assets in Oklahoma.

To help it explore its options, Victoria, Australia-based Marion Energy said Thursday, June 19, it hired Goldman, Sachs & Co.

Marion Energy CEO and managing director Jeff Clarke said in a phone interview that the company had always intended to market the company, either as a buyer, seller or joint venture partner.

However, no specific route has been chosen yet. "We just started the process," Clarke said, noting that a timeline hasn't been established. "We'll see what [our advisers] recommend."

One analyst had predicted a possible asset sale. Foster Stockbroking Pty. Ltd. analyst Paul Allard wrote that he believed "that the value in Marion is to be found in its assets and that a sale of these assets is the probable scenario for shareholders."

All of Marion Energy's assets are either in Oklahoma or Utah, and the ones in the latter were battered by seven months of snowstorms. The Utah operations are humming again and are able to produce amid the uptick in gas prices.

The company announced earlier in June that its operations had returned to near-normal levels and that natural gas sales had reached a combined gross rate between 3 million and 6 million Mmfc, or cubic feet of gas, per day.

In a research note, Patersons Securities Ltd. analyst Scott Simpson noted that Marion Energy's operations were back on track after the severe weather significantly delayed the buildup of gas production.

Simpson in March recommended buying Marion Energy's stock, putting a target of $1.32 on it. It traded at around 71 cents. In the aftermath of the Goldman Sachs hiring, it rose 11% in intraday trading on Thursday to $1.13. Simpson had also said the company has an opportunity to capitalize on current gas prices, which have remained strong.

The Energy Information Administration, in its June 12 natural gas weekly update, projected that the Henry Hub spot price will average about $11 per Mcf, or thousand cubic feet, in 2008 and 2009. (In May, it averaged $11.65 per Mcf, up $1.16 per Mcf from April.) The price increase was the result of lower imports of liquefied natural gas, higher oil prices and concerns about the adequacy of inventories, the update noted.

Total natural gas consumption is expected to grow by 2.2% in 2008, and then increase by another 0.9% in 2009.

Besides exploring strategic alternatives, Clarke said the company is already in discussions with several bidders for its assets in Oklahoma.

The possible divestiture of these assets was announced in May.

Marion Energy has a market cap of about $319 million.


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## grancoupe (22 July 2008)

*Re: MAE - Marion Energy*

my broker assures me there is more upside to current prices but can not give indication on price that may reach.there is also talk of a takeover on the cards .i think the next 6 months will be interesting as im sure alot of fluctuating in price will take place , good opportunity for astute day traders.been holding this one for a while as signs look good.


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## dale (11 August 2008)

*Re: MAE - Marion Energy*

into a trading halt this morning, something about a capital raising. didn't sound to me like they were short of cash now that they just hooked up some pipes.

does it sound like were getting any closer to the 'strategic evaluation' and the independant reserve report from Goldman Sachs??

Grrr


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## cooper208 (12 August 2008)

*Re: MAE - Marion Energy*

The mae capital raising is a bit of a sad affair. So much short term hope such little delivery.
I say that because they have the infrastructure and compressor station all hooked up but obviously can't get the gas flows stabilised enough to produce and earn income. This has been going on for a few months now.
If they can't get the gas stabilised they are not much chance of any short term sale. So they have to drill more and need the cash to do so.
Aaaarrggg. 
it's amazing how share price movement makes sense in hindsight. I just need to work on my crystal ball .........


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## dale (6 October 2008)

*Re: MAE - Marion Energy*

hey guys,

i've heard there is some new research out on this one, anybody got hold of/read it? i'll be interested to see how they're handling the hydrates and how this will affect the stabilised flow rates. any body ever heard of hydrates and their effect on rates?

cheers
dale


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## 4033981 (15 October 2008)

*Re: MAE - Marion Energy*

takeover target written all over this one.. just need some liquidity in the system for someone (macquarie?) to move.

hydrates should not be a further issue.


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## prawn_86 (15 October 2008)

*Re: MAE - Marion Energy*



4033981 said:


> takeover target written all over this one.. just need some liquidity in the system for someone (macquarie?) to move.
> 
> hydrates should not be a further issue.




Isnt virtually every stock on the bourse a takeover target at these prices?

What makes MAE so special compared to the hundreds of other 'undervalued' stocks out there?


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## dale (3 November 2008)

*Re: MAE - Marion Energy*

helluva day today! up as much as 100% but finished down under 30c. anybody with some techno whizz on LNG setups care to explain a little what they meant by 

"The Company estimates the recovery factor for the Emery Coals at Clear Creek to be 70%, and between 4 and 10% for the Mancos Shale at Clear Creek and Helper, *yielding a recoverable resource potential in these reservoirs of between 1.8 and 3.7 trillion cubic feet of gas*.

In conclusion, there is an estimated 33.5 Tcf of estimated natural gas resource in place in the Mancos Shale and the Emery and Blackhawk Coals at the Company's projects in Utah. *The estimate for the total recoverable resource potential for these reservoirs is between 2.4 and 4.3 Tcf of natural gas*."

my question is why is there two figures for total recoverable resources since they mention the same reservoirs?

also anybody willing to take shot at a new valuation assuming they stabilise their flows at 20mcf/d??

been waiting on this one a while!!

cheers
dale


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## kirtdog (31 December 2008)

*Re: MAE - Marion Energy*

whats the go with this company?? their balance sheet says they are 31mil in the red and 5mil in the green which =-26mil debt... does this mean they are woeful because if it bounced back to old highs i would make a massive profit.. did the credit crunch screw them over??


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## adobee (5 January 2009)

*Re: MAE - Marion Energy*

Lots of interest in this one today.. and a big increase.. i have jumped on at 0.385 this afternoon not sure if it was a good move but will see what happens close to four oclock...


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## adobee (6 January 2009)

*Re: MAE - Marion Energy*

STill lots of interest in this one today.. I am out at 44c but will keep watching something is definetly going on with this...


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## james_tiz (10 March 2009)

*Re: MAE - Marion Energy*

What stallion of a share?  Been performing better than i expected and has shot past where i was thinking of selling.  Has anyone got any likely outcomes of the sale/merger announcement and what affect it would have on the SP.  Glad to be a holder of this one!


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## adobee (29 April 2009)

*Re: MAE - Marion Energy*

Anyone on MAE .. picked up a bundle today.. strong buying all day, expecting big announcment re cashflows and potential sale of business... Been watching for a while and think it could be on... On like DOnkey Kong ..


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## mcleary8 (12 August 2009)

*MAE*

Hi Guys, 

Anyone know what's going on with MAE. The share price just keeps on falling and I can't find any news on them. Do I hold on or just cut my losses?


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## babka (12 August 2009)

*Re: MAE - Marion Energy*

Hi Mccleary, I am also an unfortunate stock holder. I think I will see it to the end - I could sell now, cut the losses, but those few dollars I would get, really wouldn't make much financial difference to me. Marion has an extremely bad management, directors have been shamelessly drawing their high salaries, they had spent over 150 mil for nothing. As far as I know there are a lot of shareholders getting ready for the AGM and tell them what they think. Will it help - of course NOT. Sorry not to be positive.


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## mcleary8 (12 August 2009)

*Re: MAE - Marion Energy*

Thanks Babka. I'll just hold out as well and see what happens. Hopefully something will come out of the AGM.


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## bulli (19 October 2009)

*Re: MAE - Marion Energy*

MAE into trading halt today, pending announcement to the market regarding a Capital Rasing. 
Looking back on the thread this was a move they made this time last year as well.


----------



## System (25 January 2016)

On January 25th, 2016, Marion Energy Limited (MAE) changed its name and ASX code to Cre8tek Limited (CR8).


----------



## 56gsa (7 August 2017)

Anyone following CR8?
Seems to be banking all its $6m on Flamingo -- an Enterprise SaaS company, which provides an AI platform to sell financial products online...  check it out here  www.flamingo.ai

Just looking at the market again after number of years ... and interested to see how these tech stocks get valued.  This seems to have $28m market cap based on $75k / month revenue?  Realise Flamingo just launched but is the tech bubble 2000 all over again?


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## System (27 November 2017)

On November 27th, 2017, Cre8tek Limited (CR8) changed its name and ASX code to Flamingo AI Limited (FGO).


----------



## Wysiwyg (29 September 2018)

Tipping competition selection. Hammer candle in downtrend. Possible reversal.


----------



## Gilljohniez (22 November 2018)

Fgo looks like it's on the way down!


----------



## System (9 November 2020)

On November 9th, 2020, Flamingo AI Limited changed its name to Fargo Enterprises Limited.


----------



## Dona Ferentes (9 November 2020)

*Fargo Enterprises Limited (FGO*), formerly Flamingo AI Limited, is based in NYC and Sydney, in the Conversational Commerce field, Flamingo is an Enterprise SaaS company which provides a Cognitive Virtual Assistant (AI) platform designed for selling financial products online. 
FGO's Cognitive Virtual Assistant or Chatbot is called ROSIE.


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## Dona Ferentes (15 February 2021)

will it go far?

*No, Not applicable, No *and *In Compliance *is all she wrote








but there again, in the Quarterly all of a fortnight ago, after selling the existing assets


> *Future Plans *The Company has commenced a process to look for additional assets to acquire. Shareholders should note that in accordance with ASX Guidance Note 12, ASX will generally continue quotation of the Company's securities for a six-month period to allow the Company to complete the Transaction and identify and announce a suitable new business. Depending on the timing and size of transaction, the Company may need to re-comply with Chapters 1 and 2 of the Listing Rules.


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## System (14 January 2022)

On January 14th, 2022, Fargo Enterprises Limited (FGO) changed its name and ASX code to Odessa Minerals Limited (ODE).


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## Dona Ferentes (14 January 2022)

Odessa Minerals is pleased to announce that it has successfully completed its public offer to raise $6,000,000 by way of an offer of 300,000,000 new shares at an issue price of $0.02 per share.

Proceeds raised from the Public Offer will be used to fund the diamond exploration activities across the Company’s portfolio of projects in the Kimberley diamond district of Western Australia, with work scheduled to commence upon reinstatement to quotation on the ASX, likely 18 Jan 2022. (unless there's an issue....  _Odelay _and all that)


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## greggles (12 September 2022)

Odessa Minerals announced today that it has been granted two of the three exploration licenses it applied. The tenements are known as the Lyndon project and are immediately next to DRE's Mangaroon REE and Ni-Cu Project. They are prospective for lithium, rare earths, nickel and copper. Management expect that the third exploration license applied for will be granted within the next month.

An important step forward for ODE but still a lot of work to be done. Even after today's 80% share price increase the market cap is still only ~$12 million. They will need to commence work as soon as practicable and will need some luck in coming up with results quickly.


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## noirua (8 October 2022)

Odessa Minerals (ASX:ODE) exercises option to acquire WA tenement
					

Odessa Minerals (ASX:ODE) has decided to exercise its option to acquire the E08/3217 exploration licence from Historic Gold Mines.




					themarketherald.com.au
				



Odessa Minerals (ODE) has decided to exercise its option to acquire the E08/3217 exploration licence from Historic Gold Mines.

The companies signed a binding agreement late last month for Odessa to acquire the 148-square kilometre tenement which lies within the Gascoyne region of Western Australia.


----------

