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.
Advent, through wholly owned subsidiary Asset Energy Pty Ltd, was required to submit a referral to DEWHA for its proposed pre-drilling geophysical site survey under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).
DEWHA has advised:
“the proposed action is not a controlled action, provided it is taken in accordance with the manner described in the enclosed decision document. This means that, provided that the action is undertaken in that way, it does not require further assessment and approval under the EPBC Act before it can proceed.”
About MEC Resources
ASX listed MEC Resources (ASX: MMR) invests into exploration companies targeting potentially large energy and mineral resources. The Company has been registered by the Australian Federal Government as a Pooled Development Fund enabling most MEC shareholders to receive tax free capital gains on their shares and tax free dividends.
About Advent Energy
Advent Energy Ltd is an unlisted oil and gas exploration company. Advent holds a strong portfolio of exploration and near-term production assets throughout Australia. Advent’s cornerstone project lies off the coast of NSW in Petroleum Exploration Permit 11 (PEP11), and has been estimated to comprise up to 16.3 Tcf (P10 or ‘high’ level) prospective recoverable gas resources.
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