Claim by Fugro Survey Pty Ltd
MEC Resources investee company, Advent Energy Ltd (Advent) has notified MEC that a writ has been filed against Advent’s wholly owned subsidiary, Asset Energy Pty Ltd (Asset) by Fugro Survey Pty Ltd.
The writ relates to a dispute between Asset and Fugro over fees in connection with site survey works conducted by Fugro at Petroleum Exploration Permit 11 (PEP 11).
The quantum of Fugro’s claim is approximately $2.2 million.
Asset intends to vigorously defend the claim and present a substantial counter claim for damages.
MEC will keep the market informed of progress.
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