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MEC Resources [ASX: MMR] - MEC Resources releases NSW offshore New Seaclem 1 Progress Report

Key Points:

1.

Ran and cemented 9 5/8� casing at 395mRT
2.

Drilled through Cainozoic target zones
3.

Currently drilling to TD in section interpreted as Triassic geological sequence

MEC Resources (ASX:MMR) investee company Advent Energy Ltd (Advent) has advised on the current progress of the drilling activity at New Seaclem-1.

Since the last report progress has been as follows:

1.

Open (widen) the hole to 12 �� to approximately 395 metres BRT
2.

Set and cement 9 5/8� casing at 395 metres
3.

Drill out casing shoe and conduct pressure tests
4.

Drill ahead with controlled drilling
5.

At 0600 AEDST on 29 December 2010 the well was at 581 metres.


6.

The well did not encounter gas or other hydrocarbons in the Great White or Marlin target intervals, however wireline logging will be run through this section for verification.

7.

The well appears to have drilled through the interpreted base Cainozoic unconformity at 590 metres, 30 metres higher than the prognosed depth of 620 metres.


8.

The well is currently drilling in what is interpreted as the Triassic geological sequence at 715 metres.

Commenting on the drilling to date, Advent Energy Managing Director David Breeze said:

�The New Seaclem 1 well is the first ever exploration well to be drilled for gas offshore New South Wales.

Our initial targets, the Great White and Marlin prospects were shallow gas targets and haven�t demonstrated the presence of hydrocarbons in the drilling information received at this stage.

Drilling is continuing ahead in the interpreted Triassic geological sequence to evaluate the secondary well objective.

The information gleaned in the interpreted Triassic section will be invaluable to assist Advent�s exploration efforts for its numerous deeper structural targets that exist in the very large PEP11 permit."

Mr Breeze said that although the company was disappointed that this first well had not yet encountered hydrocarbons in the Great White and Marlin prospects, the operation had provided very important data to assist the future exploration of PEP 11 as well as show that an offshore well could be operated without issue to the local community on the central coast of NSW.

For further information please contact:

David Breeze
Executive Director
MEC Resources Ltd
Tel: +61 8 9328 8477

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Bill Kemmery
Fortbridge Consulting
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