MEC Resources Ltd advises that investee entity Advent Energy Limited has started preparations for seismic acquisition in PEP11 in the offshore Sydney Basin, New South Wales.
Advent Energy Limited’s wholly owned subsidiary Asset Energy Pty Ltd, with joint venture partner Bounty Oil and Gas NL, is intending to perform a 3D seismic survey of approximately 225 km2 in PEP11.
Pending the necessary regulatory approvals and contracting of a suitable seismic vessel, the survey is intended to take place over a 4 – 5 week period between November 2014 and May 2015.
The PEP11 joint venture participants are Asset Energy Pty Ltd (85% and operator) and Bounty Oil and Gas NL (15%).
Press Release, June 20, 2014