Company Information for MEC Resources

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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.

Operations and Technology

Asset Energy
MEC invested $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 $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 16.3 Tcf prospective recoverable resources that lie within 50km of 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 anticipated within 18 months.
• Retention Lease 1, and Exploration Permit 386, in the Bonaparte Basin.  Discussions with potential customers regarding supply of gas/energy are continuing.
• A JV led by Victoria Petroleum allow Advent the opporunity to earn 50% in the Catalina block in Petroleum Exploration Licence 111.  This block is situated amongst numerous oil and gas fields in the productive Cooper Basin in South Australia.
• Advent has acquired a strategic shareholding in Australian onshore hydrocarbon explorer Central Petroleum (ASX: CTP). 
• MEC currently holds 74% of Advent Energy Ltd and has invested $1 million to date.

Board of Directors and Key Management

Goh Hock	Chairman
Mr David Breeze	Executive Director
Mr Seng Yap	Non-Executive Director
Mr C.T Lim	Non-Executive Director
Mr K.O Yap	Non-Executive Director
Ms Deborah Ambrosini	Company Secretary
Mr Ding Guiming	Chairman of Advisory Panel
Mr Philip Fillis	Advisory Panel
Mr David J. Orth	Advisory Panel
Mr Tom Fontaine	Advisory Panel
Mr Clem Allsworth	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: 123[at]123.com Website: http://www.mecresources.com.au

Related News

03/02/10 - MEC Resources Fine Tunes Its Seismic Sets Ahead Of Summer Test Of Potentially Gas-Rich Waters Off New South Wales
03/11/09 - ASX-listed Biopharmica Diversifies In Order To Back Advent Energy’s Hunt For Gas Offshore Sydney

Most Recent Statement

17/03/10 - Advent Energy PEP11 Site Survey Update
26/02/10 - PEP 11 Drilling Update
01/02/10 - Advent Energy Limited - PEP 11 Update
16/12/09 - Advent PEP11 Seismic Reprocessing
09/12/09 - Advent PEP 11 Seismic Studies Report
19/11/09 - ADVENT ENERGY PEP11 SEISMIC REPROCESSING INCLUDING COVERAGE OF PRIMARY