I think Marions managing has produced a few holes for some...

I think Marions managing has produced a few holes for some shareholders which has them questioning their investment and for others the reporting gaps can be filled with reasoning and ironically, hope.
I fall into the latter category.

My idea is that management has had a sound business model and forecasted the same plan all along and like any strategy in business this plan will take time to unfold and frame by frame as it produces and discovers it will burst into life.
The hardest nut is being cracked for the company right now and with the final stages of flow stabilisation and production close to completetion but being hampered by snow.
Its completion is inevitable and almost all shareholders are positive here (but frustrated).

A few outgoing dollars (like 10Million) have been questioned and i beleive that much of that money was spent at Helper, Utah and Oklahoma - while trying to exhaust all prospective discoveries and to determine its fate as a sellable asset or workable reserve.
During drilling at Utah a well exhibited numerous strong gas flows to the surface (flowed naturally) from 5300feet to 7900feet and the pressures encountered in this interval were "Abonormally High". This shows potential for further discoveries and is already productive, moreso than the Oklahoma play in my opionion.

The Oklahoma play is a part of the plan management has in store for Marions discourse in my opinion.
It has become a play that is not only a mere 33.33% Marion owned but also it consists of a lot of wells that between them only produce around 1.5mcfpd of Gas and yet still require money for maintenance and manning etc.
In my opinion the sale of Oklahoma is a sturdy decision for outgoins vs incomings reasons. And it sale will also give shareholders a guage on the remaining asset value of our reserves - for this reason i expect the Independant Reserve Report to come out after Oklahoma is sold, hence giving the report dual purpose.

Those factors aside, the sale of Oklahoma has an added bonus - the extra amount of concentration management can now give to its Crown Jewel plays at Clear Creek and Helper.

By my understanding we should have approximately 8 clear crk Wells and 9 Helper wells all online and producing at varying levels. These will contribute to the 20 odd mcfperday of gas that management has forecast to be in full production by the latter half of the June Quarter.
Between the two plays, Helper and Clear Creek (20mcfpd) there are 17 well heads to maintain which is adequate maintenance cost without having Oklahoma - (only 1.5 mcfpd).

So in the scheme of things i think we are well on track to fully exploit all of our resources now that the snow is melting. We wil be doing in June what we wanted to do last December, but at least it wil be happening at a time when management has a greater ability and ability and better capacity to concentrate its efforts to 2 good plays at hand - all while having reduced outgoings and pulled in some cash from the sale of Oklahoma.

I see 3 main price rises to come therefore:

1) the "immenent" flow rate news mentioned in the latest announcement

2) the Last two weeks of June when we will get announcements designed to whet our appetites for the coming Quarterly report.
Ie, if im right we could see market sensitive announcements regarding discoveries at helper and clear crk (along with production rates etc all slowly trickling in) and all of this will push the "materially sensitive" shareprice up.

3) we will have the June Quarter announcement
- which as i stated would occur following the trickles of production rate announcements etc...)

And those may be the next 3 shareprice rises IMO
- 1) to about 75cents - 850cents
- 2) to about 85cents - $1
- 3) to about $1.20 - $1.30


Ultimately, these are a few factors that shareholders may concentrate on when sniffing for value in MAE and aiming to be one a bit more confident in management and our shareprice destiny.

Cheers