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Newsroom
BOARDROOM RADIO INTERVIEW WITH DAVID BREEZE
MEC Resources Limited provides the opportunity to listen to an audio broadcast with Mr David Breeze, Executive Director in a presentation titled "MEC Resources Presentation at the Australian MicroCap Investment Conference - Mr David Breeze, Executive Director"
To view the presentation click on this link http://www.brr.com.au/event/67604
ADVENT ENERGY ON CHANNEL NINE NEWS
Advent Energy has been featured on Channel Nine News. The Nine News feature Gas mining plan off Sydney's coast of Advent Energy was aired on 6 June 2010. Click here to view.
ADVENT ENERGY CONTRACTS DRILLING RIG FOR PEP11
MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has signed an agreement with Apache Energy Ltd and Diamond Offshore Drilling (Australia) LLC for the drilling rig Ocean Patriot.
The Ocean Patriot has been contracted to drill PEP11 in the Offshore Sydney Basin. PEP11 is being progressed with joint venture partner Bounty Oil and Gas (ASX: BUY).
An exact date for drilling is yet to be determined and is contingent upon pre-existing contracts between the other parties. The range of dates to commence drilling in PEP 11 is within the third quarter of 2010, with operations currently planned for mid August and expected to take approximately 25 days. View the full announcement by clicking here
ADVENT ENERGY PEP11 OPERATIONAL UPDATE
MEC Resources' investee Advent Energy Ltd is pleased to advise that it has commenced procurement of long lead items and selected/awarded key service providers for the drilling of PEP 11 in the offshore Sydney Basin. Key contracts include Wellhead and surface conductor, Casing and Helicopters.
ADVENT ENERGY PEP11 SEISMIC REPROCESSING INCLUDING COVERAGE OF PRIMARY DRILLING TARGET AREA
MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") is progressing its reprocessing of 2004 2D seismic data acquired over PEP11 in the offshore Sydney Basin.
The first tranche of this work is expected to be completed by the end of November, including coverage of the primary drilling target area.
The reprocessing, developed by Fugro Multi-Client Services over the last six months, has shown marked improvement from the original processed data. As a result, Fugro were contracted to reprocess in tranches the entirety of the 2004 Baleen 2D Seismic Data.
Elsewhere, Advent continues to progress the PEP11 project aggressively with a number of key deliverables being announced recently including discussions and the exchange of information with potential joint venture partners, as well as:
• Rig negotiations to drill PEP11 being at an advanced stage,
• Government approvals having been received for the pre-drilling site survey, and
• Planning for this pre-drilling site survey now underway.
APPROVAL FOR PRE-DRILLING SITE SURVEY
MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has received approval from the New South Wales Department of Primary Industry (NSW DPI) for the pre-drilling site survey in the offshore Sydney Basin petroleum exploration permit PEP11.
Advent, through wholly owned subsidiary Asset Energy Pty Ltd, was required to submit an Environmental Plan (EP) to the NSW DPI for its proposed exploration activities in PEP11.
The NSW DPI has subsequently advised that the geophysical site survey component of the EP has been accepted, pursuant to the Commonwealth Petroleum (Submerged Lands) (Management of Environment) Regulations 1999.
EPBC ACT APPROVAL FOR PRE-DRILLING SITE SURVEY - PEP11 OFFSHORE SYDNEY BASIN
MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has received approval from the Department of Environment, Water, Heritage and the Arts (DEWHA) for the pre-drilling site survey in the offshore Sydney Basin petroleum exploration permit PEP11.
PEP 11 Offshore Sydney Basin - Update and Direct Hydrocarbon Indicators
MEC Resources (ASX:MMR) is pleased to provide an update to the market on progress to a drill test of PEP 11 offshore Sydney Basin.
MEC advises that investee company Advent Energy Ltd ("Advent") :
These anomalous features are considered prime indicators for the occurrence of hydrocarbons and Advent believes that these DHI are highly encouraging for the prospectivity of PEP11 in the offshore Sydney Basin. View the full annoncement by clicking here
Advent Engages Major European Financial Services Firm - Pareto Securities
MEC Resources Limited (ASX: MMR) is pleased to announce that Advent Energy Ltd (Advent) has mandated Pareto Securities AS of Norway to act as the lead broker to source Advent's capital needs.
Advent is attracting funding primarily for the exploration drilling proposed in the offshore Sydney Basin (PEP11), where the permit has been estimated to hold up to 16.3 Tcf prospective recoverable resources. View the full announcement by clicking here
Offshore Sydney Basin - Brazilian Analogue for New Prospective Hydrocarbon Plays
MEC Resources Limited (ASX: MMR) is pleased to advise that its investee company Advent Energy Ltd (Advent) has interpreted significant new prospective multi-Tcf stratigraphic plays in an ongoing review of its exploration data for the PEP11 offshore Sydney Basin project (JV partner - Bounty Oil & Gas NL (ASX: BUY).
Advent has previously reported the prospective P10 unrisked gas resource estimate of 16.3 trillion cubic feet for the permit (ASX: MMR 27 October 2008), as residing in deeper, structural Permo-Triassic targets associated with the Offshore Uplift. View the full announcement by clicking here
Offshore Sydney Basin - Significant Gas Features
• New hydrocarbon indicators revealed
• Evidence of extensive gas generation
• Key consultants appointed and potential joint venture partner discussions underway
• Advent looking to secure an appropriate drill rig
MEC Resources Ltd (ASX:MMR) advises that its investee entity Advent Energy Ltd (Advent) has interpreted significant new seismically indicated gas features in an ongoing review of its exploration data for the PEP11 offshore Sydney Basin project (JV partner - Bounty Oil & Gas NL (ASX: BUY). Review the full announcement here
Confirmation of hydrocarbon gas in offshore Sydney Basin
A hydrocarbon gas source has been analysed and confirmed in the offshore Sydney Basin. The confirmation of a hydrocarbon based gas analysis was released at the Petroleum Exploration Society of Australia (PESA) "Eastern Australasian Basins Symposium" 14-17 September 2008.
The confirmation of this type of hydrocarbon gas seepage is an extremely significant development for MEC Resources investee Advent Energy, which holds an interest in the offshore Sydney Basin Petroleum Exploration Permit PEP 11. Active seeps of the nature reported are considered by experts in this field to occur in basins now actively generating hydrocarbons and or that contain excellent migration pathways. The methane gas has been reported by independent testing to comprise a mixture of thermogenic and biogenic gas. View the full announcement by clicking on this link Confirmation Hydrocarbon gas in Offshore Sydney Basin 12.11.08.pdf
Advent Energy Ltd - $7 Million Funding Agreement
MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has successfully secured a funding agreement that will provide a significant capital raising totalling A$7 million by the issue of 14 million shares at 50 cents per share.
The agreement is subject to conditions which are expected to be satisfied by Advent.
The funds will be used by Advent to progress the PEP11 project off the coast of New South Wales.
Advent is proactively researching joint venture and farm in options for PEP11 and is currently in
discussions with a number of interested parties.
Advent has also commenced discussions regarding the provision of rigs for the offshore PEP11 project and expects to advise shareholders of developments by the end of calendar 2008.
Prospective Recoverable Gas Resources Estimated up to 16.3 Tcf (P10) for PEP11 Offshore Sydney Basin
· Technical review of PEP11 Offshore Sydney Basin completed
· Six prospects identified with total estimated prospective recoverable gas resources of up to 16.3Tcf (P10)
· Advent currently looking to secure an appropriate drilling rig, including farm-in options
For the full announcement click on this link ASX MMR Prospective Recoverable Gas Resources Estimated up to 16.pdf
Location of Gas Seeps NSW Continental Shelf - Offshore Sydney Basin
The Board of MEC Resources Ltd (ASX: MMR) advise that on 14 September 2008 the Company released details of a report describing geophysical evidence for gas in the offshore Sydney Basin.
MEC's investee Advent Energy Ltd ("Advent") has now mapped these potential hydrocarbon seepage features (data points classified as potential hydrocarbon seepage by complying with stringent criteria) using data supplied. As indicated by the star highlights in the map below, these seeps are distributed along the continental shelf margin from south of Sydney to north of Newcastle on the Petroleum Exploration Permit 11 (PEP 11) margin.
A further report on the integration of these results is pending. To view the announcment in full click this link Location of Gas Seeps NSW Continental Shelf - Offshore Sydney Basin 250908.pdf
Geophysical Indications of Gas in Offshore Sydney Basin
MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has received a report from Fred Kroh, former Project Leader of the Geophysical Processing and Data Access Project with Geoscience Australia, describing geophysical evidence for gas in the offshore Sydney Basin, NSW.
The report states that the geophysical data collected as part of Geoscience Australia's NSW Continental Slope Survey SS10/2006 (voyage lines indicated right), especially Swath Bathymetry and TOPAS Sub-Bottom Profiles, have replicated features demonstrated previously (from SS06/2005) to have been derived from implied thermogenic hydrocarbon seepage emanating from the Cornea Oil Field, in the Timor Sea, north western Australia.
The Cornea seepage, published in Marine and Petroleum Geology 23 (2006) pp145-164, was the first time in Australia that active present-day hydrocarbon seepage had been imaged.
The swath bathymetric analysis (SS10/2006) has been published and commented on previously by Geoscience Australia in the March 2008 edition/Issue 89 of AusGeo News. Here, Kriton Glenn, chief scientist aboard the SS10/2006 voyage states:
"Many remarkable features were also seen for the first time, such as mid slope channels off the Hunter region. Some of these channels have levees and a V shaped morphology, suggesting that both active erosion and deposition are taking place. Additionally, a series of large pockmarks (~600 metres in diameter and ~70 metres deep) were found in water depths exceeding 1300 metres. The ages of the pockmarks are hard to determine, as they are formed as a result of an ongoing gas or liquid escape from much deeper in the geological profile. Seismic data indicate that the fluid is migrating along faults and escaping via these features into the water column. The profiles show little infilling of the steep walls of the pockmarks, indicating an active erosional process."
Evaluation of Geosequestration potential in offshore Sydney Basin
MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has initiated discussions with Australian Government authorities regarding the Company's evaluation of the geosequestration potential for its Petroleum Exploration Permit 11 (PEP11) in the offshore Sydney Basin.
Potential geological structures have been identified less than 50 km from Newcastle and Sydney, and a recent Carbon Dioxide Cooperative Research Centre (CO2CRC) paper has demonstrated the potential for geosequestration and has outlined the potential benefit to New South Wales and Australia if PEP11 should prove suitable for anthropogenic carbon dioxide underground storage.
A summary of the paper is available by clicking Here, and it is recommended that the CO2CRC paper should be read in full.
New Large Structures Mapped in PEP11 Offshore Sydney Basin Gas Project
MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") is to release today preliminary results* of new mapping of seismic data from the PEP 11 Offshore Sydney Basin permit. Seismic acquired (1460 km) in late 2004/early 2005 has been integrated with 2,345 km of 1981 and 1991 seismic for the first time. For full details click here
ASX MMR New Large Structures Mapped in PEP11 Offshore Sydney Basin Gas Project 080808.pdfMEC Granted an option to acquire up to an 85% interest in PEP11
MEC Resources (through its investees) has been granted an option to acquire up to an 85% interest in Petroleum Permit PEP 11, an oil and gas permit located in the Offshore Sydney Basin. For details click here
MEC signs an MOU with CNLC
MEC Resources has signed a Memorandum of Understanding (MOU) with China National Logging Corporation (CNLC). The MOU relates to the potential formation of a Joint Venture Company (JVC) to (a) provide oil and gas exploration and production services to projects identified by MEC Resources and its investee company Advent Energy Ltd; and (b) market these services to other companies operating in Australia. For details click here
