MAE 0.00% 0.0¢ marion energy limited


  1. 2,593 Posts.

    These comments below in relation to the directors are meant more broadly then a response just to any one post but perhaps support some of what Kookas current view is. He has been with this one for a while and has seen it all before. But he is big enough to speak for himself.

    In relation to directors if the newbies go back and look at the announcements over the last few years you would be quite right in thinking -

    how on earth could this company still be having discussions about cash in bank problems, stable gas flows and a potential sale. Because these should have been done and dusted long ago. However, through various reasons these issues are still front and centre. MAE have run into one problem after another always telling the story that everything is progressing "positively" and "going to expectations".

    Then shortly there after they announce it aint so folks.

    For example and just to name my favourites - we are having problems with the infrastructure build as we didn't realise it would be so difficult to build pipelines in a hilly area....HELLO or we have been unable to get stable gas flows because of hydrate problems ... HELLO. Those are just two of many.

    The infrastrucure build is my favourite - I mean you can see the hills and you can see the snow but still it was she will be all peaches folks we will have it done in a jiffy..then they go.... well actually we are having lots of problems because it is quite hilly and it snows a lot. Who woulda thunk it. Gold.

    Lets visit the hydrate issue - apparently very common in a cold environment where gas flows are high. For the newbies the main gas field is in a very cold place. So why wouldn't they have included this in the calculations for bringing the gas on line. HELLO.

    The management of MAE may or may not be like some managers we have all worked for at some point. Those where you think I wonder how on earth they get out of bed and put there pants of a morning without falling over.

    In summary - just be wary of directors telling you everything is hunky dory when they have a record of saying that but not delivering it. There is no doubt MAE has an asset which is of real value but it doesn't mean everything will be all roses.

    The above is just my opinion.

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