core sector communique

ADVENT ENERGY SEISMIC STUDIES REPORT – PEP11 OFFSHORE SYDNEY BASIN

MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd (“Advent”) has received a report from an independent consultant that investigated fluid venting and associated structures for a prospectivity assessment of the offshore Sydney Basin.

The report includes discussion of the seismic attribute analyses and the resultant direct indications of hydrocarbons (DHI) in the seismic line (B4-15) examined.  Advent believes that these DHI are highly encouraging for the prospectivity of PEP11 in the offshore Sydney Basin.

In summary, the report investigated and evaluated:

• 2006 multi-beam bathymetric, sub-bottom profile and echo-sounder data acquired during GeoscienceAustralia’s SS10/2006 survey off the coast of NSW;
• data review and reprocessing of 2D seismic data acquired by Fugro in 2004 and originally processed in 2006; and
• seismic attribute analysis of the 2004 2D seismic data.

An extract from the report can be viewed by clicking here.  This describes the seismic attribute analyses undertaken and the resultant direct indications of hydrocarbons (DHI) in the seismic line (B4-15) examined.  This independent interpretation directly complements existing work generated by geophysical consultants Total Depth and Fugro, as previously presented (ASX: MMR 24 August 2009).

These DHI have been initially observed on seismic line B4-15 along the main structural trend and are adjacent to the previously identified Baleen Prospect.  They include high amplitude bright spot reflections, attenuation of high frequencies in instantaneous frequency plots, and bright spot features in Root Mean Squared amplitude plots.  These anomalous features are typically prime indicators for the occurrence of hydrocarbons.

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.