Quote from: "29 July 2011UPDATE: DEVELOPMENT OF USA SHALE GAS...

Quote from:
"29 July 2011
UPDATE: DEVELOPMENT OF USA SHALE GAS PROJECT AT HELPER PROJECT, UTAH
• 100% owned Helper Project, Utah contains significant shale acreage
• Recent industry transactions give renewed focus on the unconventional gas sector
• In line with the recent Strategic Corporate Restructure, the Helper Project Review will be accelerated to
maximise shareholder value
In accordance with the Strategic Review announced on June 15 and in light of recent industry transactions, Marion
Energy (ASX: MAE) will accelerate its review of development option. ...."

((end of quote))

Just wondering if anyone has received any information concerning announcements made by JC in June and July. He stated that further information would be issued in a 30-40 day range but nothing has been released.

There was a suggestion that some parts of Marion's permit interests would be sold off to pay off debt and allow money to also be available with a JV partner to then investigate the O&G interests that were retained. The JV partner would also bring in expertise and added resources to develop the potential 2T gas field prospect remaining.

Question to those actual shareholders who may know:

(I)How are things progressing in regards to the contents of these announcements?

There was also a suggestion that a new legal identity would be given this remaining potential resource and that existing shareholders would receive a pro-rata share of this new company (refer June 2011 announcement).

Q 2: Will current 2012 Option Holders also be involved in a pro-rata share in this new company? I hold a few K of ordinary shares but my major holding is in the options.

Hopefully the large band of non holders don't jump on this thread. More interested in people's opinions who actually hold! Regards, Bernie



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