Australian (ASX) Stock Market Forum

FGO - Flamingo AI

Ann

Joined
Dec 24, 2005
Posts
2,093
Reactions
1,041
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
 

Attachments

Knobby22

Mmmmmm 2nd breakfast
Joined
Oct 13, 2004
Posts
6,368
Reactions
1,856
Re: MAE - Marion Energy

Good call. 66c now.
 
Joined
Feb 28, 2006
Posts
14
Reactions
0
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.
 
Joined
Sep 11, 2006
Posts
667
Reactions
0
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?
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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?
 
Joined
Nov 13, 2006
Posts
32
Reactions
0
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...
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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?
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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?
 
Joined
Jun 29, 2006
Posts
1,458
Reactions
0
Re: MAE - Marion Energy

I dont know much about this company.. but continue to hear positive feedback!
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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 :cautious:

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?
 
Joined
Nov 13, 2006
Posts
32
Reactions
0
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 :rolleyes:

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... :D

An eventual takeover at $6 would be very nice :)
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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 :banghead:

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?
 
Joined
Jan 31, 2007
Posts
11
Reactions
0
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).
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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?
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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?
 
Joined
Jan 31, 2007
Posts
11
Reactions
0
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?
 
Joined
Mar 17, 2007
Posts
9
Reactions
0
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?
 
Joined
Jun 29, 2006
Posts
1,458
Reactions
0
Re: MAE - Marion Energy

Seems to be a substanial increase in trading today after a somewhat downward trend..
 
Joined
Nov 13, 2006
Posts
701
Reactions
0
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:p:
 
Top