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Additional Information

Market:	ASX
Sector:	Alternative Energy
EPIC:	MAE
Latest Price:	0.01 (0.00%)
52-week High:	0.04
52-week Low:	0.01
Market Cap:	6.59M

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Marion Energy

Marion Energy Limited (ASX: MAE) is an Australia-based company that is following a low risk strategy of pursuing gas reserves and associated production in the Rocky Mountains and Mid-Continent regions.

Marion Energy increases credit facility for US operations

Wednesday, July 01, 2009

Marion Energy Limited (ASX:MAE) advises that its existing Senior Secured Credit Facility held with its bankers has been increased by US$ 6 million to a total of US$ 42 million.

The total facility has been renewed until 30 September, 2009 and is secured by the Company’s assets, including its Utah and Oklahoma projects. The increase is fully available.

The Clear Creek 2p reserves in Utah are 85.51 Bcfe. Seven newly drilled wells are tied into production facilities.

In early February 2009 Marion Energy mandated Goldman Sachs & Co to undertake a process which may lead to the sale of the Company and/or its assets either in whole or in part.

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