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FGO - Flamingo AI

Discussion in 'Stocks 0-H' started by Ann, Jan 14, 2006.

  1. Ann

    Ann

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    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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  2. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    Re: MAE - Marion Energy

    Good call. 66c now.
     
  3. Cyph

    Cyph

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    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.
     
  4. mick2006

    mick2006

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    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?
     
  5. KIWIKARLOS

    KIWIKARLOS

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    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?
     
  6. afroboy

    afroboy

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    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...
     
  7. KIWIKARLOS

    KIWIKARLOS

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    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?
     
  8. KIWIKARLOS

    KIWIKARLOS

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    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?
     
  9. adobee

    adobee

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    Re: MAE - Marion Energy

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

    KIWIKARLOS

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    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?
     
  11. afroboy

    afroboy

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    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 :)
     
  12. KIWIKARLOS

    KIWIKARLOS

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    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?
     
  13. pepy

    pepy

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    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).
     
  14. KIWIKARLOS

    KIWIKARLOS

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    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?
     
  15. Share Bear

    Share Bear

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    Re: MAE - Marion Energy

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

    KIWIKARLOS

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    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?
     
  17. pepy

    pepy

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    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?
     
  18. Traveller

    Traveller

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    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?
     
  19. adobee

    adobee

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    Re: MAE - Marion Energy

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

    KIWIKARLOS

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    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:
     

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