MEC Resources Ltd., an energy and mineral resources exploration company, disclosed Tuesday that the National Offshore Petroleum Titles Administrator (NOPTA) has approved a suspension of the PEP11 Year 2 work program of a 124 mile (200 kilometer) 2D seismic survey and geotechnical studies in Sydney Basin, offshore New South Wales, Australia until Aug. 12.
The PEP11 Permit Work Program is now as follows:
The PEP11 joint venture participants are Asset Energy Pty Ltd. (85 percent and operator) and Bounty Oil and Gas NL (15 percent). Asset Energy Pty Ltd. is a wholly owned subsidiary of MEC Resources Ltd. investee entity Advent Energy Ltd.
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