🕐24.09.09 - 01:37 Uhr

MEC Resources [ASX: MMR] - Update on PEP 11 Offshore Sydney Basin and Direct Hydrocarbon Indicators



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MEC Resources [ASX: MMR] - Update on PEP 11 Offshore Sydney Basin and Direct Hydrocarbon Indicators

MEC Resources (ASX:MMR) provides an update to the market on progress to a drill test of PEP 11 offshore Sydney Basin.

MEC advises that investee company Advent Energy Ltd:

� is currently in advanced negotiations to secure a drilling rig and has lodged environmental applications for drilling in preparation for a drill test which is expected for the first half of the calendar year 2010; and
� has received a report from the Commonwealth Scientific and Industrial Research Organisation (�CSIRO�) which provides independent reporting of direct hydrocarbon indicators showing on seismic data in PEP 11;
� The report which details amplitude versus offset (AVO) processing and review of seismic data acquired in 2004 reports the apparent presence of direct hydrocarbon indicators (DHI) on seismic lines;
� The DHI have initially been observed on seismic line B4-15 along the main structural trend and are adjacent to the previously identified Baleen Prospect.

They include high amplitude bright spot reflections, attenuation of high frequencies in instantaneous frequency plots, and bright spot features in Root Mean Squared amplitude plots.

These anomalous features are considered prime indicators for the occurrence of hydrocarbons and Advent believes that these DHI are highly encouraging for the prospectivity of PEP11 in the offshore Sydney Basin.

A detailed review of the CSIRO report is currently being compiled.

For further information, please contact:

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

Media Enquiries:
Bill Kemmery
Fortbridge Consulting
Tel: +61 2 9331 0655
Mobile: +61 400 122 449
Email:


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