Tuesday 17 April 2018

MEC Resources Ltd provided an update on the PEP11 2D seismic exploration survey offshore New South Wales.

The Company’s investee Advent Energy Ltd holds an 85% interest in PEP11 through wholly owned subsidiary Asset Energy Pty Ltd.

A 2-dimensional seismic survey of approximately 200 line km is now occurring offshore Newcastle and pursuant to an environment plan accepted by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA). This activity is designed to satisfy the Year 2 work commitment for PEP11.

The Company advised shareholders that the survey commenced acquisition this morning, following a short delay due to unfavourable sea state conditions.

The survey is being undertaken over the Baleen prospect in PEP11. It is anticipated to take approximately 3-4 days, and will be undertaken at a location predominantly 30km southeast of Newcastle, NSW. A tie line to the New Seaclem-1 exploration well site, approximately 50km northeast of the main survey area, will also be undertaken for geological calibration of survey data.