NOPTA Approves MEC's Request to Suspend PEP11 Year 2 Work Program off NSW

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:

  • Year 1: 1,243 mile (2,000 kilometer) 2D Seismic Reprocessing Geotechnical Studies
  • Year 2:  124 mile (200 kilometer) 2d Seismic Survey Geotechnical Studies
  • Year 3: Geotechnical Studies
  • Year 4: One Exploration Well
  • Year 5: 193 square miles (500 square kilometers) 3D Seismic Survey

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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