Company Information for MEC Resources

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ASX; MMR

Company Statement

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.

Strategy

MEC will provide carefully selected companies in the energy and mineral exploration sectors with development and exploration funding. The early stage of a junior exploration company potentially offers the most exciting growth opportunities in the energy and minerals sectors.

MEC intends to identify investment opportunities with a number of specific characteristics including: large targets; a stage of development that permits a strategic investor or IPO within several years; strong and experienced management team and a definitive competitive advantage.

Investments with the potential for prolific returns are always associated with risk. However our multi-resources, diversified portfolio strategy is designed to protect the portfolio against large fluctuations in the value of any single resources investment. This will also enable MEC to pursue the expansion, development, IPO or sale of each particular investee company in response to changing market demands at any time.

MEC will favour investments into exploration companies targeting potentially large energy and mineral resources. Sectors with limited supply and strong demand such as Oil and Gas, Uranium and Gold will be the initial focus.

MEC will seek to 'exit' investments by successfully attracting public or corporate buyers for some or all of the company's shares. Through an exit, MEC may realise returns while the investee company receives an infusion of capital and/or a new strategic direction from a corporate partner.

Operations and Technology

Investments

Asset Energy

MEC invested A$655,000 in November 2006 to acquire Asset Energy Pty Ltd. Funds were used to enter into a joint venture agreement with Bounty Oil and Gas NL with regards to New South Wales/Petroleum Exploration Permit 11 - offshore Sydney Basin. Via shareholder resolution in 2008, Asset Energy was acquired from MEC by Advent Energy Ltd.

Advent Energy

Advent Energy is an unlisted oil and gas exploration and production company incorporated in 2004 and acquired by MEC in 2006. Since acquisition, Advent has enhanced its excellent portfolio of oil and gas exploration and near term production assets located both on and offshore Australia. These permits have had an estimated A$126 million previously invested on historic exploration.

Included in these assets are:

Petroleum Exploration Permit 11 in the offshore Sydney Basin. This permit has been assessed to contain 13.2 Tcf (at the 'P50' or 'best estimate' level) prospective recoverable resources that lie adjacent to the major population region of Sydney and excellent port and power generation infrastructure.

Carnarvon Basin (permit EP325) where supply of gas from the Rivoli gas field to the Australian Government naval facility at Exmouth is being considered.

Retention Lease 1, and Exploration Permit 386, in the Bonaparte Basin. Discussions with potential customers regarding supply of gas/energy are continuing.

MEC currently holds 51.1 per cent of Advent Energy Ltd.

Geographical Spread

Australia

Board of Directors and Key Management

Goh Hock	Chairman
Mr David Breeze	Executive Director
Mr C.T Lim	Non-Executive Director
Mr K.O Yap	Non-Executive Director
Ms Deborah Ambrosini	Company Secretary and Director
Mr Ding Guiming	Chairman of Advisory Panel
Mr Philip Fillis	Advisory Panel
Mr David J. Orth	Advisory Panel
Mr Tom Fontaine	Advisory Panel
Fred Kroh	Advisory Panel
Jim Dirstein	Advisory Panel

Company Address

14 View Street
North Perth, Western Australia, Australia WA 6006


Telephone:	+61 8 9328 8477
Email:	info[at]mecresources.com.au
Website:	http://www.mecresources.com.au

Capital

119,183,794 ordinary shares
51,252,533 listed options
10,453,332 unlisted options

Major Shareholders

Grandbridge Ltd	9,747,362	8.18 per cent
Breeze David	6,234,438	5.23 per cent
Merrill Lynch Aust Nom PL	5,190,600	4.36 per cent
Citicorp Nom PL	4,209,997	3.53 per cent
Trandcorp PL	3,849,216	3.23 per cent
Lim Chin Tong	3,434,350	2.88 per cent
Ming Ding Gui	2,000,000	1.68 per cent
Pado John Thomas	925,186	0.78 percent
Websdale Anthony Brian	800,000	0.67 per cent
Moore Rhonda Kate	666,667	0.56 per cent

Most Recent Statement

31/08/10 - Advent Energy Ltd - PEP 11 Drilling Update
27/08/10 - PEP 11 - Well Location Chosen
25/08/10 - Preliminary Final Report and Statutory Accounts
20/05/10 - Advent Energy PEP 11 Seismic Reprocessing and Site Survey
18/05/10 - MEC Resources will be presenting Advent Energy today 9:50am Tuesday 18th May 2010 at the Rodman & Renshaw Global Investment Conference in London
18/05/10 - Advent Energy Rodman Renshaw London Conference Presentation

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