MEC’s Advent Energy reports significant gas features at offshore Sydney Basin March 23, 2009

MEC Resources Ltd (ASX:MMR) announced today 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)).

• 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

Advent has previously reported the prospective P10 unrisked gas resource estimate of 16.3 trillion cubic feet for the permit.

Key indicators of hydrocarbon accumulation features have been interpreted from the ongoing review of 2004 seismic data.

MEC Resources Managing Director David Breeze said that the seismic evidence of extensive gas generation and migration is continuing to be examined by Advent and independent geologists and geophysicists.

In a further step towards commercial development of the project, Advent has appointed lead consultants RPS Group for the environmental planning and approvals process. DU-EL Drilling Services has been appointed for well construction and project management to assist with the next stage of the project’s development.

Advent is also continuing to pursue joint venture discussions and is looking to secure an appropriate drilling rig to test PEP11. The current market downturn and lower level of operational activity has presented Advent with a number of options to achieve the latter within a relatively quicker timeline.

Click here to see the full announcement.

For further information, please contact:

David Breeze
Executive Director
MEC Resources Ltd
Tel: +61 8 9328 8477

Media Enquiries:
Bill Kemmery
Fortbridge Consulting
Tel: +61 2 9331 0655
Mobile: +61 400 122 449
Email: bill.kemmery@fortbridge.com