.....This is the MAE CORPORATE HISTORY below and how much MAE...

.....This is the MAE CORPORATE HISTORY below and how much MAE have raised over the past few years and now they have not a brass razzo....Can anyone explain where the cash is?....I am staggered and thankfully not a holder just a researcher!

CORPORATE HISTORY

2004
... Marion Energy Inc. backed into ASX listed Carpenter Pacific
... $22 million private placement at $0.20 I share under new management team
... Acquired a 30% interest in the Jefferson-McLeod (East Texas) project

2005
... Sold interest in Maari oil and gas project in New Zealand
... Acquired a 63.75% interest in the Helper project in central Utah
... Farmed into Clear Creek project in central Utah for a 67.5% interest
... $5.1 million private placement - 16 million shares at A$0.32/share
... Renamed Marion Energy

2006
... $3.9 million private placement at $0.69Ishare
... Divested 15% of Helper project to Odyssey Energy
... Acquired interest in Oklahoma oil and gas re-development projects
...Increased working interest in Clear Creek to 80%
... Issued 26.7 million shares at $0.75, raising $19 million
... Increased Clear Creek working interest to 92.5%, subject to a 12.5% net profits interest
... Acquired 59.375% working interest in 22,000 gross acres in Roan Cliffs
... Acquired 16,000 gross acres, pipeline and gathering system at Jester-Bloomington, Oklahoma?? Signed loan documentation with Fortis Capital Corp. for a US$20 million 3-year senior secured
revolving credit facility

2007
... Raised A$11.25 million from exercise of 45 million options
... First formal reserve report: 264 Bcfe of Proved and Probable reserves (140 Bcfe Proved)
... Raised $43.55 million in a private placement of 48.4 million shares at $0.90 / share
... Divested East Texas assets, increased working interest in Clear Creek to 100% and Helper to
59.375% in a non-cash asset swap
... Bought out 2 partners in Helper, increasing working interest to 70%

2008
... Bank credit facility increased to $25.5 million
... Increased working interest in the Helper project to 100% and the Jester-Bloomington project to
66.67/100%; total 2P reserves increase to 319 Bcfe, issued 27.5 million shares as consideration
... $15 million placement at $0.86 / share (17.4 million shares)

2009
... Bank credit facility increased to US$36 million
... Goldman Sachs mandated to seek buyers for company / assets
... Independent MHA Reserves report indicates 139 Bcfe proven reserves, 85 bcfe probable
reserves and 18 Bcfe possible reserves
..Bank credit facility increased to US$42 million
..$6.5 million placement at $0.15 / share (43.33 million shares)

2010
.. Extension of bank credit facility to 30 September 2011
...$2.8 million placement at $0.07 / share (40 million shares)
... Board reduction
... $3.4 million placement at $0.02 / share (170 million shares)
... Extension of bank credit facility to 30 September 2013
... Outstanding repayment of US$5 million credit converted to Convertible Note (6%, 30 Sep 2013)
... $4.4 million placement at $0.02 / share (220 million shares)
... $6 million Convertible Note facility with La Jolla Cove

http://www.marionenergy.com.au/IRM/Company/ShowPage.aspx/PDFs/1555-66025392/MAE_LodgeReport

...RB