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MEC Resources updates on PEP11, Sydney Basin February 1, 2010

Posted by Fortbridge in Energy.
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MEC Resources (ASX: MMR) provides an update on current developments regarding investee company Advent Energy Ltd and its progress towards undertaking a drilling program at PEP11 in the offshore Sydney Basin.

Highlights:

  • Reprocessing of 2004 2D seismic data acquired over PEP11 in the offshore Sydney Basin is nearing completion
  • Evaluation of the reprocessed seismic data for Direct Hydrocarbon Indicators (DHI) has commenced with evidence of Flat Spots
  • The reprocessing has validated existing drilling targets and identified further potential drilling targets
  • Drilling rig negotiations are at an advanced stage; drilling dates will be advised to the market in due course but the current planning is estimated for mid 2010

Click here to view 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

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