MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has initiated discussions with Australian Government authorities regarding the Company's evaluation of the geosequestration potential for its Petroleum Exploration Permit 11 (PEP11) in the offshore Sydney Basin.
Potential geological structures have been identified less than 50 km from Newcastle and Sydney, and a recent Carbon Dioxide Cooperative Research Centre (CO2CRC) paper has demonstrated the potential for geosequestration and has outlined the potential benefit to New South Wales and Australia if PEP11 should prove suitable for anthropogenic carbon dioxide underground storage.
MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has initiated discussions with Australian Government authorities regarding the Company's evaluation of the geosequestration potential for its Petroleum Exploration Permit 11 (PEP11) in the offshore Sydney Basin.
Potential geological structures have been identified less than 50 km from Newcastle and Sydney, and a recent Carbon Dioxide Cooperative Research Centre (CO2CRC) paper has demonstrated the potential for geosequestration and has outlined the potential benefit to New South Wales and Australia if PEP11 should prove suitable for anthropogenic carbon dioxide underground storage.
It is recommended that the summary of the paper (Appendix 1) and the CO2CRC paper (Appendix 2) be read in full, and is available to view by clicking here.