marion energy ltd (MAE) Snapshot

Marion Energy Ltd. has announced that Nick Stretch has been appointed as an independent director.

Australian Stock Exchange (the Exchange or ASX) announced that under listing rule 17.6, Marion Energy Limited that had not paid its annual listing fees by close of business on August 22, 2012 and is suspended from official quotation before the commencement of trading on August 23, 2012. The Exchange said that the company has not paid its annual listing fee in respect of the year ending June 30, 2013 but is already suspended from official quotation. In accordance with listing rule 16.5, entities that pay their annual listing fees on or after August 23, 2012 must pay by bank cheque only. Under listing rule 17.15, any entity that has not paid its annual listing fees as required by listing rule 16.5 by 5.00 pm EST on August 29, 2012 will be removed from the official list with effect from the close of trading on August 29, 2012.

Marion Energy Limited said that it has received approaches form interested parties to acquire all or part of its Oklahoma gas assets. The company has started talks with these parties which in turn are expected to commence due diligence in the near future.