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MARION ENERGY LIMITED(MAE)

SHARE PRICES

(updated at weekends)

Former (or subsequent) names

Shareholder links

Our website ranking of MAE: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:

Automic Registry Services LEVEL 2, 267 St Georges Terrace,, PERTH, WA, AUSTRALIA, 6000

Tel : +61 (2) 8072 1400 or 1300 288 664 (within Australia)
Fax :
RegistryWebsite RegistryEmail

Company details

Address: C/- Nick Stretch Legal Suite 802, 530 Little Collins St Melbourne VIC 3000
Tel:  03 8862 6466 Fax: 03 8862 6614

Date first listed: 03/07/1986
Company Secretary: Nicholas Stretch, Mr Peter Collery
Sector: Energy Industry Group: XEJ
Activities: Increase reserves and production of non-conventional natural gas in the onshore USA - developing low cost reserves by exploiting mature reserves and finding new reserves in existing producing areas, adjacent to existing infrastructure

News & Events

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OFX Transferring Money Internationally to Free

name changed to Cre8tek Limited

25/01/2016

The Company advises that the closing date for offers under the Company's prospectus dated 8 December 2015 have been extended to 5pm WST on Wednesday, 20 January 2016.

12/01/2016

The delisting deadline extension was granted on the basis that the company is in the final stages of completing the acquisition of Global Agenda Technologies Pty Ltd; and should the company's securities not be reinstated to quotation by the commencement of trading on 8 March 2016, ASX will immediately remove the company from the official list from the open of trading on that day and no further extensions will be permitted.

06/01/2016

The company releases its constitution.

04/01/2016

The Company is pleased to advise that ASX has extended the Company's de-listing deadline to 8 March 2016.

24/12/2015

The company is pleased to advise that all resolutions put to shareholders at today's General Meeting were passed by shareholders on a show of hands.

23/12/2015

The company releases its corporate governance statement.

08/12/2015

The company issues a prospectus for For an offer of 180,000,000 Shares at a price of $0.02 each to raise $3,600,000 before costs (Public Offer). The minimum subscription under the Public Offer is $3,600,000. The prospectus also contains the following secondary offers: An offer of 2,500,000 Shares to the Vendor of Global Agenda Technologies Pty Ltd (Agenda) for the acquisition of all the shares in Agenda by the Company (Consideration Offer); and An offer of up to 50,000,000 Options to corporate advisers and brokers in consideration for capital raising services provided to the Company (Option Offer).

08/12/2015

The company lodges its annual report for 30 June 2015.

08/12/2015

The company lodges its interim report for the half-year ended 31 December 2014.

08/12/2015

The company lodges its financial report for Global Agenda Technologies for the year ended 30 November 2015.

08/12/2015

The Company is pleased to advise that it has obtained the waivers from ASX in connection with the Company's proposed acquisition of 100% of the issued capital of Global Agenda Technologies Pty Ltd (Agenda) (Acquisition) and re-compliance with Chapters 1 and 2 of the Listing Rules. Capitalised terms have the same meaning as disclosed in the Company's notice of general meeting lodged with ASX on 24 November 2015 (Notice).

08/12/2015

The company releases its revised securities trading policy.

08/12/2015

The General Meeting of the Company will be held at 108 Outram Street, West Perth, Western Australia on Wednesday, 23 December 2015 at 10.00am (WST).

24/11/2015

The Company is pleased to advise that due diligence for the acquisition of 100% of the issued capital of Global Agenda Technologies Pty Ltd (Agenda) is complete and both the Board and Agenda have determined to proceed with the acquisition.

24/11/2015

The Company advises that due diligence for the acquisition of 100% of the issued capital of Global Agenda Technologies Pty Ltd (Agenda) is still progressing, with both parties agreeing to extend the due diligence period for a further 7 days to Wednesday 25 November 2015.

20/11/2015

The Company advises that due diligence for the acquisition of 100% of the issued capital of Global Agenda Technologies Pty Ltd (Agenda) is progressing, with no issues identified to date. The 14 day due diligence period ends next Wednesday 18 November 2015. The Company will provide a further update at that time. The Company is preparing a notice of meeting seeking requisite approvals relating to the acquisition of Agenda. The Company expects to dispatch the notice mid-November, which is consistent with the indicative timetable in the Company's announcement of 5 November 2015.

12/11/2015

The Board of Marion Energy Limited (ASX:MAE) is pleased to announce that it has executed a binding heads of agreement with a mobile & online application services company Global Agenda Technologies Pty Ltd (Agenda) to acquire 100% of the issued capital of Agenda (Acquisition). Agenda aims to offer and deliver unique SaaS technologies, mobile/online transactional services and social network integration to global consumer services industries that encourages sales conversions between businesses and consumers. MAE (to be renamed Cre8tek Limited, subject to shareholder approval) has agreed to a transformational acquisition to obtain a 100% interest in Agenda.

05/11/2015

all conditions precedent to the Recapitalisation Proposal have now been met and today the Company issued 10,000,000 Creditor Shares and 40,000,000 Placement Shares. Accordingly, the DOCA has now been fully effectuated.

28/10/2015

we understand that on or about this date the company consolidated its shares 1 for 100

15/10/2015

The company advises that resolutions 1-9 put to the Extraordinary General Meeting of members today were carried as ordinary resolutions. Resolutions 10 and 11, which required 75% approval as special resolutions, were lost.

30/09/2015

The company had an Extraordinary General Meeting today, 30 September 2015.

30/09/2015

The company announces a notification of consolidation/split.

01/09/2015

A General Meeting of the Company will be held at the offices of Chartered Accountants Australia and New Zealand, Level 3, 600 Bourke Street, Melbourne on Wednesday, 30 September 2015 at 10.30am (AEST).

28/08/2015

The following entity (Marion energy Limited) has not paid their annual listing fees in respect of the year ending 30 June 2016 but the securities are already suspended from official quotation. 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 AEST on Monday 31 August 2015 will be removed from the official list with effect from the close of trading on Monday 31 August 2015

25/08/2015

The company advises that creditors have resolved to vary the terms of teh DOCA executed on 18 March 2015. A notice of meeting and explanatory memorandum is currently being prepared to allow for a general meeting of shareholders at a date to be determined in the near future. An amended and restated DOCA consistent with the recapitalisation proposal was executed on 7 August 2015.

12/08/2015

Castlelake LP has elected to proceed with its purchase of substantially all of the Marion Energy Inc.'s (MEI) assets by way of a credit bid. It is anticipated that Castlelake's decision will be ratified by the Court at a hearing on 28 May 2015 (US time) and the transaction will be closed with an effective date of 1 June 2015.

29/05/2015

Marion Energy Limited advises that it has entered into a Deed of Company Arrangement

19/03/2015

appoints administrators

02/02/2015

on Friday 5 December 2014 the US Federal Bankruptcy Court refused an application by Castlelake LP to set aside the bankruptcy of Marion Energy, Inc. However, the Court also refused an application by Marion Energy Inc ("MEI") to allow super-priority for working capital funding during the bankruptcy period. The Court ordered that Marion Energy Inc would have bankruptcy protection from its creditors until 1 June 2015

02/01/2015

all the resolutions put to the Annual General Meeting of members today were carried

19/12/2014

on Friday 5 December 2014 the US Federal Bankruptcy Court refused an application by Castlelake LP to set aside the bankruptcy of Marion Energy, Inc. However, the Court also refused an application by Marion Energy, Inc. (MEI) to allow super-priority for working capital funding during the bankruptcy period. The Court ordered that Marion Energy Inc. would have bankruptcy protection from its creditors until 1 June 2015. Since that time, the board of Marion Energy Inc. has been in discussion with Castlelake LP in relation to funding the working capital requirements of MEI during the bankruptcy period but those discussions have not resulted in agreement. Accordingly, MEI will bring the matter back to the US Federal Bankruptcy Court at 2.00 pm (US Mountain Time) on Wednesday 17 December 2014 (AEST: 8.00 am Thursday 18 December 2014)

17/12/2014

On Friday 5 December 2014 the US Federal Bankruptcy Court refused an application by Castlelake LC to set aside the bankruptcy of Marion Energy, Inc. for bad faith. However, the Court also refused an application by Marion Energy, Inc to allow super-priority for working capital funding during the bankruptcy period. The Court ordered that Marion Energy Inc would have bankruptcy protection from its creditors until 1 June 2015

08/12/2014

the Australian Securities and Investments Commission (ASIC) has granted an extension of time for MAE to hold its Annual General Meeting (AGM) for the 2014 financial year. By notice given on 11 November 2014, ASIC extended the deadline for MAE to hold its AGM from 30 November 2014 to 19 December 2014

13/11/2014

Marion Energy, Inc. ("˜MEI') a wholly owned subsidiary of Marion Energy Limited ("˜MEL'), filed in Salt Lake City, Utah for bankruptcy protection under the US Bankruptcy Code

01/11/2014

the company is negotiating funding to cover short-term working capital requirements

15/09/2014

makes an "omnibus" announcement to consolidate previously released information in relation to its operations at its Clear Creek gas field in Utah, USA

09/09/2014

advises of an Updated Clear Creek Reserves Report

25/08/2014

issues a prospectus

18/07/2014

a Forbearance Agreement has been executed and exchanged between Castlelake, Marion Energy, Inc. and Marion Energy Limited. The terms of the Forbearance Agreement were negotiated by the Company with the assistance of its corporate advisers, 333 Capital Pty Ltd and its US lawyers, Skadden, Arps, Slate, Meagher & Flom LLP. The Forbearance Agreement provides a standstill in relation to any enforcement under the lending documents between the parties before 30 August 2014

15/07/2014

letters have been sent to shareholders confirming the consolidation

30/06/2014

all the resolutions put to the Extraordinary General Meeting of members today were carried (a resolution authorising the consolidation of the ordinary shares in the company on a 10:1 basis (Consolidation) was also passed)

19/06/2014

MAE has signed a mandate with corporate advisory firm 333 Capital who will assist the company in: "¢ the management of its relationship with Castlelake, LP (formerly TPG Credit), the current financier to the Company's operating subsidiary, Marion Energy Inc. (MEI); "¢ exploring the option of re-financing of the facility provided by Castlelake; and "¢ managing the potential sale of the Clear Creek assets owned by MEI

19/06/2014

provides Notice of Extraordinary General Meeting on 19 June 2014 which includes a Resolution to approve a share consolidation under which each existing 10 Shares in the Company on issue will be converted to 1 Share

20/05/2014

announces that following the successful refurbishment of the existing wells and infrastructure at Marion's Clear Creek field in Utah, production operations are ongoing from eight of the wells with a ninth likely to come into production in the next seven days

30/04/2014

Marion Energy Limited (ASX:MAE) has received notification from ASX on 8 April 2014 that the company has exceeded its capacity to issue ordinary securities under ASX Listing Rule 7.1 by 73,072,217 ordinary shares. That breach occurred as a result of the recent placement of shares announced on 18 March 2014

10/04/2014

As previously announced, following the refinancing of its balance sheet in June 2013, Marion Energy (ASX: MAE, "Company") began operations on its shut in wells at Clear Creek

25/03/2014

Marion Energy Limited (ASX:MAE) wishes to announce that it has today placed 73,072,217 shares with KM custodians Pty Ltd raising AUD438,433.30 "“ an amount equivalent to USD395,010.38, which was the amount required to redeem recently matured convertible notes issued to La Jolla Cove Investors, Inc.

19/03/2014

releases 2013 Full Year Statutory Accounts, 2012 Half Year Accounts, 2012 Full Year Statutory Accounts, 2011 Half Year Accounts 2011 Full Year Statutory Accounts (PDF)

14/03/2014

advises that further to its announcement dated 25 November 2013, it is making good progress with operations at its Clear Creek, Utah project

31/01/2014

following the restructuring of the Company's balance sheet (announced to ASX on 31 July, 2013), Marion has completed the preliminary work required to restart field operations at its Clear Creek and Helper fields. Both fields have been largely shut in for the last two years as the Company undertook its financial restructuring

04/11/2013

the company announces that, following extensive negotiations together with an exhaustive due diligence process, an exclusive substantial financing offer term sheet has been signed with a large USA based Investment Entity with the offer being conditional upon final negotiation and completion of a definitive legal agreement (incorporating operating and financial covenants) and upon completion will lead to a major restructuring of its balance sheet including the company" debts

14/05/2013

Two strategic alternatives are currently being pursued. 􀂃 Partial sale of Clear Creek Project. The Company is currently in discussions with a number of parties all of whom are involved in the E & P sector of the industry. These discussions are centered on the formation of a joint venture achieved through the partial sale of the asset. It is anticipated that if a joint venture is formed, the incoming party will become the operator of the project. Funds generated through this alternative will be primarily directed toward reduction of debt levels of the company. 􀂃 Recapitalisation of the Company. As an alternative to seeking a partial sale of the Clear Creek project, management is considering ways in which it can achieve a recapitalization of the company with the aim again being to achieve debt reduction and to provide sufficient working capital to enable operations to recommence under new technical and operational management. Management and its advisers are currently in preliminary discussions with a number of parties with regard to this alternative. Reaching clarity with regard to the two alternatives outlined above will enable the Company to finalise its annual financial statements which will enable it to then hold its Annual General Meetings

20/09/2012

company advises that it has completed a reserve update for the conventional gas reserves at its Clear Creek project located at Utah, USA

16/12/2011

MAE's management have continued to pursue their restructuring and capital management initiatives deemed necessary for the Company to enable it to continue to fully pursue its operations. Pursuant to this, the Directors have appointed 333 Capital, a boutique advisory and corporate turnaround practice to assist with this process

14/10/2011

a workover program is in progress on seven Clear Creek wells including three wells considered by management to have a high probability of being substantial producers. The Company reported that significant progress is being achieved with the workover program. In addition, the production from the company's wells increased during the quarter to 1 million cubic feet of gas. The Company's target of production is 5 million cubic feet of gas per day by end of June 2011 quarter

14/10/2011

suspended from quotation following failure to lodge financial reports

03/10/2011

securities reinstated to quotation

23/07/2010

securities suspended from quotation pending an announcement

07/07/2010

securities reinstated to quotation

25/02/2010

securities suspended from quotation pending an announcement

18/02/2010

name changed from Carpenter Pacific Resources Limited

23/12/2005

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Loading comments....  Most recent comments
Note - these have been transferred to Issuer Sponsored now. So when using "Sell Worthless shares" you need to use an SRN not a HIN.18/05/2015 19:14:22
Suspended for 3 years. Needs a bullet already
18/12/2014 10:05:46
When will this company be relisted?28/04/2014 10:25:55
Why dont they ever send updates to the current shareholders ?????17/12/2012 23:39:06

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    Directors' on-market share transactions (last 5)

     

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Stephen WattsNon Exec Chairman, Independent Director28/08/2013
    Nicholas StretchIndependent Director08/05/2013
    Karl LoumanExecutive Director, CFO
    Jeff ClarkeDirector13/12/2004

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Peter ColleryCEO, Executive Director13/12/200428/02/2014

    Date of first appointment, title may have changed.