New Seaclem-1 Progress Report No.1
Key Points:
? Ocean Patriot handed over to Asset Energy Pty Ltd
? Under tight tow from offshore Victoriaen route to New Seaclem-1
MEC Resources Limited (ASX:MMR) investee company Advent Energy Ltd (Advent) has advised that it (through wholly owned subsidiary Asset Energy Pty Ltd) has taken operational control of the Ocean Patriot semi-submersible drilling rig overnight.
The Ocean Patriot is currently under tow from its previous location in the Gippsland Basin offshore Victoria towards the New Seaclem-1 drilling site, located 55 km due east of Newcastle, NSW.
The tow to the New Seaclem-1 location, 55 km due east of Newcastle, will take approximately four days. Upon arriving at location, the rig’s anchors will be run before the rig ballasts down.
New Seaclem-1 is anticipated to spud late Tuesday 14th December.
Further details and updates on the schedule and activities will be announced in due course.
PEP11 Participants Equity
Asset Energy Pty Ltd* 25%#
A wholly owned subsidiary of Advent (Major shareholders of Advent include: MEC Resources (ASX: MMR), BPH Energy, Grandbridge (ASX: GBA) and Talbot Group Investments)
Bounty Oil & Gas (ASX: BUY) 75%#
* Asset Energy is Operator for the Joint Venture
# Asset Energy is increasing its interest in PEP11 to 85% on completion of the New Seaclem-1 well. Bounty Oil & Gas will thereby reduce to 15%.
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