MEC Resources offers investors an exciting structure through which to invest into exploration companies seeking large energy and mineral discoveries.
 
The Company has also 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.
 
MEC's investment capital is targeted for new and emerging companies in which investments have the potential to yield significant returns.
 
MEC aims to achieve maximum capital appreciation by early stage investing into small and medium-sized energy and minerals exploration companies with strong growth potential and a well-defined exit strategy, such as an initial public offering or acquisition.

MEC Resources (ASX:MMR)

Company Directors

Mr CT Lim (Non Exec. Director)
Mr David Breeze (Executive Director)
Ms Deborah Ambrosini (Director)
Mr Hock Goh (Chairman)
Mr K O Yap (Non Exec. Director)
Mr Seng Yap (Non Exec. Director)

Contact Information

Phone: +61 8 9328 8477
Email: info@mecresources.com.au
Website: www.mecresources.com.au

Media Releases see all media releases

MEC Resources Limited (ASX:MMR) Advent Energy Ltd - Exploration Permit 386 Update
04 Apr,2011 01:10 PM

Advent Energy EP386 Update
 
MEC Resources (ASX:MMR) is pleased to provide the following update from its investee company Advent Energy Ltd (Advent) regarding the present status of Exploration Permit 386 (EP386) in the onshore Bonaparte Basin.
 
Advent has advised that the Western Australian Department of Mines & Petroleum (WA DMP) has approved the renewal of EP386 in the onshore Bonaparte Basin for a 5 year term. The minimum work requirements for the permit are as follows:
 
Year of Term - Minimum Work Requirements
1 - Production Test, 2D Seismic Reprocessing
2 - One Exploration Well
3 - Geophysical and Engineering Studies
4 - 50km New 2D Seismic Survey
5 - Geophysical and Engineering Studies
 
Advent holds 100% of EP386 where 9 wells have been drilled since 1963. All wells encountered significant oil and/or gas shows. Five discoveries have been made including Waggon Creek-1, Vienta-1 and Bonaparte-2.
 
In the Northern Territory, Advent holds 100% of Retention Licence 1 which covers the Weaber Gas Field and related prospects. The Weaber Gas Field was discovered in 1985 but is yet to be brought into production.
 
A map of the permit area is provided in the ASX announcement.
 
Advent is presently developing plans to test existing discoveries for potential commercial development and supply of gas for nearby energy users. Details of future works will be advised in due course and will include, as a minimum, the work program commitment obligations as described above.
 
Advent’s major shareholders remain unchanged including MEC Resources (ASX: MMR), BPH Energy (ASX: BPH), Talbot Group Investments and Grandbridge (ASX: GBA).