Marion boosts stake in Utah, Oklahoma areas

Marion Energy completed the acquisition from Odyssey Energy of the working interest it didn't own in the Helper field project in Carbon County, Utah, and the Jester and Bloomington field projects in Greer County, Okla.

Sept. 4, 2008

By OGJ editors
HOUSTON, Sept. 4 -- Marion Energy Ltd., Melbourne, completed the acquisition from Odyssey Energy Ltd., Vancouver, BC, of the working interest it didn't own in the Helper field project in Carbon County, Utah, and the Jester and Bloomington field projects in Greer County, Okla.

Consideration is 27.5 million Marion Energy shares.

By acquiring Odyssey's 30% working interest in Helper and 33% working interest in Jester-Bloomington, Marion Energy raised its proved and probable gas reserve base 29 bcf to 319 bcf.