MEC Resources (ASX:MMR) Notification of Provisional PEP11 Drilling Commencement Date
Perth, Nov 25, 2010 AEST (ABN Newswire) - MEC Resources (
ASX:MMR) is pleased to announce that it has been informed by its investee company Advent Energy Ltd ("Advent"), that it has received a provisional date of Tuesday 7 December 2010 for the commencement of the operational handover of the Ocean Patriot Drilling semi-submersible rig for drilling the PEP11 project offshore Sydney.
Advent, through wholly owned subsidiary Asset Energy Pty Ltd, has contracted the Ocean Patriot semi-submersible drilling rig to drill the New Seaclem-1 well, offshore Newcastle, NSW for the PEP11 joint venture including partner Bounty Oil & Gas (ASX:BUY).
The provisional rig schedule for the Ocean Patriot is set out in the attached schedule.
The New Seaclem-1 proposed drilling location is 55km east of Newcastle, NSW, and is designed to target the Great White & Marlin prospects (of prospective gas in place resources of 4.1 Tcf) in PEP11.
Advent will provide further detail on the precise schedule as soon as this information is available.
The major shareholders of Advent are MEC Resources, BPH Corporate (ASX:BPH), Talbot Group Investments and Grandbridge (ASX:GBA).
About MEC Resources Limited
MEC Resources (ASX:MMR) 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.
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