Melbourne, June 5, 2009 (ABN Newswire) - Marion Energy Limited (ASX:MAE)(PINK:MAEJF) advises that it has secured the approval of its banking syndicate to an interim extension of 30 days to the maturity date of its existing facilities while it completes the necessary documentation pertaining to an increase in the amount of funds available from its total facilities and to further extend the maturity date.
Further details will be advised to the ASX upon finalisation of loan documentation which is now in the process of being completed.
About Marion Energy Limited
Marion Energy Limited is following a low risk strategy of pursuing gas reserves and associated production in the Rocky Mountains and Mid-Continent regions. The Company's activities are generally within the geographic confines of or adjacent to known production and within easy access of existing pipeline infrastructure. We have been able to accumulate an enviable lease position where the company is undertaking a highly successful development drilling program.
Contact
North American Contact: Mr Jeff Clarke Managing Director & CEO Ph: +00111-214-244-7690 Email: jclarke@marionenergy.com
Australian Contact: Mr Peter Collery Executive Director and Company Secretary Ph: +61-3-8862-6466 Email: peter@marionenergy.com.au
Marion Energy Limited
){kind=link}