🕐26.02.10 - 06:09 Uhr

Mec Resources [MMR] - ADVENT ENERGY PEP11 OPERATIONAL UPDATE



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Mec Resources [MMR] - ADVENT ENERGY PEP11 OPERATIONAL UPDATE

MEC Resources� investee Advent Energy Ltd is pleased to advise that it has commenced procurement of long lead items and selected/awarded key service providers for the drilling of PEP 11 in the offshore Sydney Basin.



Key contracts include:

� Wellhead and surface conductor;
� Casing and
� Helicopters.

By engaging these key suppliers Advent is well prepared for its anticipated drilling later in 2010.

ASX listed MEC Resources (ASX: MMR) invests into exploration companies targeting potentially large energy and mineral resources.

The Company has been registered by the Australian Federal Government as a Pooled Development Fund enabling most MEC shareholders to receive tax free capital gains on their shares and tax free dividends.

Advent Energy Ltd is an unlisted oil and gas exploration company.

Advent holds a strong portfolio of exploration and near-term production assets throughout Australia.

Advent�s cornerstone project lies off the coast of NSW in Petroleum Exploration Permit 11 (PEP11), and has been estimated to comprise up to 16.3 Tcf (P10 or �high� level) prospective recoverable gas resources.

Advent Energy�s wholly owned subsidiary Asset Energy Pty Ltd is increasing its interest from 25% to 85% from joint venture partner Bounty Oil and Gas (ASX:BUY) who will reduce their interest from 75% to 15%.

For further information:

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

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


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