🕐24.06.13 - 07:54 Uhr

MEC RESOURCES [ASX: MMR] - ADVENT ENERGY - BONAPARTE & SYDNEY BASIN ASSETS





Fortbridge Media Release

MEC Resources [ASX: MMR] - Advent Energy - Bonaparte & Sydney Basin Assets

MEC Resources Limited (ASX: MMR) is pleased to advise of the following developments in investee Advent Energy Ltd�sassets in the onshore Bonaparte Basin (EP386 & RL1) and offshore Sydney Basin (PEP11).

Onshore Bonaparte Basin (EP386 and RL1)

Advent has now received and is reviewing the airborne geophysical data acquired by Beach Energy and provided to Advent under the data sharing agreement with Beach Energy. The survey covered a portion of EP386 and all of RL1. Advent also received data over an intervening area between EP386 and RL1.

To progress Advent�s intended initial commercialisation of its EP386 and RL1 assets, Advent has commissioned an engineering study to investigate field development of RL1 through production of Compressed Natural Gas and distribution to regional energy consumers.

Offshore Sydney Basin (PEP11)

Advent�s 85% interest in PEP11 is held by wholly owned subsidiary Asset Energy Pty Ltd. Asset Energy�s current legal dispute with Fugro Survey Pty Ltd and RPS Energy Pty Ltd has been listed for a court appointed mediation conference on 21 August 2013. A trial date tentatively commencing 10 September 2013 has been retained.

Advent is presently preparing for seismic acquisition in PEP11 in satisfaction of the permit year 2 work commitments. Advent will advise of any developments regarding this activity in due course.

Please see the attached announcement for more details.

For further information, please contact:

David Breeze
Executive Director
Tel: +61 8 9328 8477

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