MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") is progressing its reprocessing of 2004 2D seismic data acquired over PEP11 in the offshore Sydney Basin.
The first tranche of this work is expected to be completed by the end of November, including coverage of the primary drilling target area.
The reprocessing, developed by Fugro Multi-Client Services over the last six months, has shown marked improvement from the original processed data. As a result, Fugro were contracted to reprocess in tranches the entirety of the 2004 Baleen 2D Seismic Data.
Elsewhere, Advent continues to progress the PEP11 project aggressively with a number of key deliverables being announced recently including discussions and the exchange of information with potential joint venture partners, as well as:
• Rig negotiations to drill PEP11 being at an advanced stage,
• Government approvals having been received for the pre-drilling site survey, and
• Planning for this pre-drilling site survey now underway.