Here you are Kiwi, Extract from OGW from December as posted...

Here you are Kiwi,
Extract from OGW from December as posted previously.
Note the error as to "no 1P reserves" whereas in fact over 50% of MAE's certified reserves are 1P.
I assume a correction of this will be made in the next
newsletter.
This Campbell bloke also predicts the oil price by the end of March 2009 will be over US$100. Yeah sure - now tell me the one about Goldilocks & the three bears.

Here's what OGW had to say:
"Marion Energy ran again from 31 cents to 40 cents as rumours persist about an asset sale. When we spoke to Odyssey Energy a couple of weeks ago they pointed to Devon Energy’s US$689 million purchase of 210 Bcf of 1P assets at Drunkards Wash in Utah as an indication of what Marion
could expect to receive for its Clear Creek assets.
Well maybe. Devon paid $3.24 a mcf for 1P reserves at Drunkards wash on a field producing 40 mmcf a day.
Marion has no 1P reserves at Clear Creek and 5 mmcf a day in production if that. It had anticipated a 1P reserves estimate and 20 mmcf a day of production by the end of 2008 but like so many of Marion’s predictions
these never happened.
And Devon bought its Drunkards Wash assets in early November 2008 when the gas price was higher and companies were still prepared to buy assets.
Marion believes that the original Clear Creek production from wells spaced at 640 acres failed to produce the full gas potential of the field. So it has drilled wells at closer intervals in the hope of recovering large amounts of remaining gas. If the thesis is wrong Marion will have spent a ship load of money drilling on what appears to be an already produced out field.
Punters who still believe in fairy tales and hope to see Marion back above $1.00 could end up holding a parcel of shares when a trading halt is called and the company announces it has called in the receivers."

I must say he does go to alot of trouble in continually singling out MAE in his weekly newsletter.