Advent

Advent Energy Operational Update

2010-03-03T01:48:10Z

MEC Resources' investee Advent Energy Ltd is pleased to advise that it has commenced procurement of long lead items and selected/awarded key service providers for the drilling of PEP 11 in the offshore Sydney Basin. Key contracts include, wellhead and surface conductor, casing and Helicopters.

By engaging these key suppliers Advent is well prepared for its anticipated drilling later in 2010.

Advent Energy PEP11 Seismic Reprocessing

2009-11-19T03:46:05Z

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.

ADVENT ENERGY ONSHORE BONAPARTE BASIN EXPLORATION

2009-11-18T07:46:55Z

MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") is undertaking an airborne geophysical survey over EP386 and RL1 in the onshore Bonaparte Basin, Western Australia and Northern Territory respectively. The survey will be carried out by Pinemont Technologies Pty Ltd and it is anticipated to commence the week beginning Monday 23rd November.

The object of the survey is to detect transients of secondary magnetic fields associated with micro-seepage plumes and REDOX cells over hydrocarbon reservoirs. In addition to the Weaber Gas Field in RL1, there are a number of leads and prospects in EP386 and RL1 as well as unknown prospectivity in much of the permits. The aim of the survey is to upgrade these various prospects in EP386 and RL1 for further evaluation for drilling.

Advent holds a 100% interest in each of EP386 and RL1.

MEC Resources feature on Cannell 9's Mining Matters

2009-11-18T05:56:06Z

Click here to view the video

Approval for Pre-Drilling Site Survey

2009-11-05T01:40:37Z

MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has received approval from the New South Wales Department of Primary Industry (NSW DPI) for the pre-drilling site survey in the offshore Sydney Basin petroleum exploration permit PEP11.

Advent, through wholly owned subsidiary Asset Energy Pty Ltd, was required to submit an Environmental Plan (EP) to the NSW DPI for its proposed exploration activities in PEP11.

The NSW DPI has subsequently advised that the geophysical site survey component of the EP has been accepted, pursuant to the Commonwealth Peroleum (Submerged Lands) (Management of Environment) Regulations 1999.

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EPBC Act Approval for Pre-Drilling Site Survey in PEP11

2009-10-21T02:47:48Z

EPBC ACT APPROVAL FOR PRE-DRILLING SITE SURVEY - PEP11 OFFSHORE SYDNEY BASIN

MEC Resources (ASX:MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has received approval from the Department of Environment, Water, Heritage and the Arts (DEWHA) for the pre-drilling site survey in the offshore Sydney Basin petroleum exploration permit PEP11.

]]> EPBC ACT APPROVAL FOR PRE-DRILLING SITE SURVEY - PEP11 OFFSHORE SYDNEY BASIN

Advent, through wholly owned subsidiary Asset Energy Pty Ltd, was required to submit a referral to DEWHA for its proposed pre-drilling geophysical site survey under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act).

DEWHA has advised:
"the proposed action is not a controlled action, provided it is taken in accordance with the manner described in the enclosed decision document. This means that, provided that the action is undertaken in that way, it does not require further assessment and approval under the EPBC Act before it can proceed."

About MEC Resources
ASX listed MEC Resources (ASX: MMR) invests into exploration companies targeting potentially large energy and mineral resources. The Company has been registered by the Australian Federal Government as a Pooled Development Fund enabling most MEC shareholders to receive tax free capital gains on their shares and tax free dividends.

About Advent Energy
Advent Energy Ltd is an unlisted oil and gas exploration company. Advent holds a strong portfolio of exploration and near-term production assets throughout Australia. Advent's cornerstone project lies off the coast of NSW in Petroleum Exploration Permit 11 (PEP11), and has been estimated to comprise up to 16.3 Tcf (P10 or 'high' level) prospective recoverable gas resources.

PEP11 Offshore Sydney Basin - Direct Hydrocarbon Indicators

2009-09-24T02:06:25Z

..."These anomalous features are considered prime indicators for the occurrence of hydrocarbons and Advent believes that these DHI are highly encouraging for the prospectivity of PEP11 in the offshore Sydney Basin" MEC advises that investee company Advent Energy Ltd ("Advent") :

is currently in advanced negotiations to secure a drilling rig and has lodged environmental applications for drilling in preparation for a drill test which is expected for the first half of the calendar year 2010; and
has received a report from the Commonwealth Scientific and Industrial Research Organisation ("CSIRO")which provides independent reporting of direct hydrocarbon indicators showing on seismic data over one of the main prospects in PEP 11.
The report which details amplitude versus offset (AVO) processing and review of seismic data acquired in 2004 reports the apparent presence of direct hydrocarbon indicators (DHI) on seismic lines
The DHI have initially been observed on seismic line B4-15 along the main structural trend and are adjacent to the previously identified Baleen Prospect. They include high amplitude bright spot reflections, attenuation of high frequencies in instantaneous frequency plots, and bright spot features in Root Mean Squared amplitude plots.

These anomalous features are considered prime indicators for the occurrence of hydrocarbons and Advent believes that these DHI are highly encouraging for the prospectivity of PEP11 in the offshore Sydney Basin.

A detailed review of the CSIRO report is currently being compiled.

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Offshore Sydney Basin - Brazilian Analogue for New Prospective Hydrocarbon Plays

2009-08-11T05:03:58Z

MEC Resources Limited (ASX: MMR) is pleased to advise that its investee company Advent Energy Ltd (Advent) has interpreted significant new prospective multi-Tcf stratigraphic plays in an ongoing review of its exploration data for the PEP11 offshore Sydney Basin project (JV partner - Bounty Oil & Gas NL (ASX: BUY).

Advent has previously reported the prospective P10 unrisked gas resource estimate of 16.3 trillion cubic feet for the permit (ASX: MMR 27 October 2008), as residing in deeper, structural Permo-Triassic targets associated with the Offshore Uplift.

PEP11 covers a very large area (over 8,100km2). In addition to the aforementioned prospects, further examination of features in the Cainozoic sediment wedge overlying the Permo-Triassic sediments along the Sydney Basin continental shelf has demonstrated "soft" high amplitude anomalies (reverse polarity to the water bottom reflector) that are observed along sequential seismic lines continuously over considerable (>60 km) lateral NE-SW extent.
]]> MEC Resources Limited (ASX: MMR) is pleased to advise that its investee company Advent Energy Ltd (Advent) has interpreted significant new prospective multi-Tcf stratigraphic plays in an ongoing review of its exploration data for the PEP11 offshore Sydney Basin project (JV partner - Bounty Oil & Gas NL (ASX: BUY). View the full announcement by clicking here

Advent has previously reported the prospective P10 unrisked gas resource estimate of 16.3 trillion cubic feet for the permit (ASX: MMR 27 October 2008), as residing in deeper, structural Permo-Triassic targets associated with the Offshore Uplift.

PEP11 covers a very large area (over 8,100km2). In addition to the aforementioned prospects,
further examination of features in the Cainozoic sediment wedge overlying the Permo-Triassic sediments along the Sydney Basin continental shelf has demonstrated "soft" high amplitude anomalies (reverse polarity to the water bottom reflector) that are observed along sequential seismic lines continuously over considerable (>60 km) lateral NE-SW extent.

An example of the seismic features is provided on the right from seismic line B4-11 (seismic line length is ~30 km). The zones of contiguous amplitude anomalous horizons are depicted as yellow polygons in the permit map which can be viewed in the full announcement.

Advent notes that these newly identified prospective zones are analogous to the giant Marlim field in the Campos Basin in Brazil.

Location (left) and seismic transect (below) of the Marlim Oil Field, Campos Basin, Brazil, as used by Essential Petroleum as an analogy to their Descartes Prospect, in VIC/P50 in the offshore Otway Basin, Victoria. Essential Petroleum state that this prospect may hold 800 MMbbl oil (P50).

Modelling suggests that the hydrocarbon migration in the offshore Sydney Basin in PEP11, as described previously by Advent as manifesting in the seismic data as HRDZs, gas chimneys, chemotropic mounds and similar features, has charged the sediments of the Cainozoic wedge. The resulting accumulation of hydrocarbons in these sediments can produce the reverse polarity and amplitude anomalies as seen and mapped in the aforementioned images.

The Quaternary sediments have been described to comprise a large variation in grainsize (from clay to gravel) with the dominant grain size a medium-to coarse grained sand (Sayers, 2004). It is feasible that an appropriate sorting of sediments during the progradational Cainozoic deposition resulted in an ideal package of potential reservoir and sealing units - Boyd (1998) describes similar such "forced regressive shorelines" as of considerable importance to the hydrocarbon exploration industry because of the significant potential for good reservoir development. In addition, no faults have been interpreted in the Cainozoic sediment wedge on seismic data from modern surveys, implying very low risk from a 'fault breach' point of view (Sayers, 2004).

In a further step towards commercial development of the project, conceptual well design and well testing planning has been completed for drilling of the Fish Prospect. Environmental approvals are in the process of being lodged. Advent is also continuing to pursue joint venture discussions and is in discussions to secure an appropriate drilling rig to test PEP11.

MEC Resources Announce Significant Gas Features

2009-03-23T06:21:54Z

Offshore Sydney Basin - Significant Gas Features

• New hydrocarbon indicators revealed
• Evidence of extensive gas generation
• Key consultants appointed and potential joint venture partner discussions underway
• Advent looking to secure an appropriate drill rig

MEC Resources Ltd (ASX:MMR) advises that its investee entity Advent Energy Ltd (Advent) has interpreted significant new seismically indicated gas features in an ongoing review of its exploration data for the PEP11 offshore Sydney Basin project (JV partner - Bounty Oil & Gas NL (ASX: BUY)

]]> Advent has previously reported the prospective P10 unrisked gas resource estimate of 16.3 trillion cubic feet for the permit (ASX: MMR 27 October 2008).

Key indicators of hydrocarbon accumulation features have been interpreted from the ongoing review of 2004 seismic data. If confirmed by drilling, these seismic features are of immense significance to any commercial development of the project. The seismic features include apparent Hydrocarbon Related Diagenetic Zones (HRDZ), potential Amplitude Versus Offset (AVO) features and flat spots.

MEC Resources Managing Director David Breeze said that the seismic evidence of extensive gas generation and migration is continuing to be examined by Advent and independent geologists and geophysicists.

In a further step towards commercial development of the project, Advent has appointed lead consultants RPS Group for the environmental planning and approvals process. DU-EL Drilling Services has been appointed for well construction and project management to assist with the next stage of the project's development.

Advent is also continuing to pursue joint venture discussions and is looking to secure an appropriate drilling rig to test PEP11. The current market downturn and lower level of operational activity has presented Advent with a number of options to achieve the latter within a relatively quicker timeline.

"We are confident that our work to date shows evidence of a prospective deeper gas source in the area. Advent will now prioritise research and exploration to further prioritise drilling targets," Mr Breeze said.

"Additional mapping to look at the details of the hydrocarbon indicators and their relationship to the deeper prospective structures will clearly be helpful in providing a fuller picture of the hydrocarbon potential of the basin."

An inferred gas chimney in a seismic profile was initially confirmed by Timothy Berge. Mr Berge has published widely in this area and is a consultant geophysicist with extensive international experience with multinational oil companies. Additionally, collaboration with the CSIRO in Perth, Western Australia, has yielded for the first time a fully independently derived and interpreted gas chimney feature from revision of the velocity model of the seismic data and reprocessing work.

Advent believes the gas seep structures already identified on the continental shelf warrant further independent review and is in discussions with the CSIRO and other independent geophysicists to progress this.

Interpretation of Seismic Survey Data Continues

HRDZ (Hydrocarbon Related Diagenetic Zones) are indicators of hydrocarbon migration. Comparisons have been made between HRDZ observed in the 2004 Baleen seismic survey data and those by Geoff O'Brien, formerly of Geoscience Australia and R. Cowley, over the Skua, Swift and Tahbilk fields in the prolific Bonaparte Basin and over the Browse Basin. Comparisons in addition to other images can be read in full in the announcement ASX MMR Significant Gas Features 230309.pdf

Review of amplitude versus offset data (AVO)

As part of its ongoing exploration, Advent has continued to analyse data covering potential key hydrocarbon indicators detected over PEP11 in an attempt to further understand the extent of hydrocarbon charge observed indirectly as gas seeps at the seabed surface and on seismic data. A recent review of the results of an earlier study of amplitude versus offset data (AVO) analysis undertaken by an independent contractor indicates the possible presence of hydrocarbons adjacent to structures previously identified in PEP 11.

The analysis of the potential AVO on seismic line B4-15 is displayed in the seismic section below. Ongoing AVO work is aimed at extending the anomalies onto adjacent seismic lines.
Further AVO analyses will contribute to assisting the interpretation of seismic data already acquired.

"The AVO work done so far is encouraging for the possible presence of gas effects in the target zones and we eagerly await the conclusion of further studies." Mr Breeze said.

Flat spots are potential hydrocarbon indicators that can demonstrate gas/oil, gas/water or oil/water interface events. Advent has identified candidate sites with this direct hydrocarbon indicator feature. A review is underway of potential locations on the northern end of the main structural trend containing the Baleen and Fish prospects.

Advent believes the new data proves the offshore Sydney Basin to be a petroleum basin with excellent potential for the discovery of gas and oil. Advent's work to date has confirmed hydrocarbon generation and migration in the offshore Sydney Basin.

Advent Energy Executive Director Presents at APPEX 2009

2009-03-04T01:53:34Z

MEC Resources advises that its investee entity Advent Energy Ltd is exhibiting at the American Association of Petroleum Geologists Prospect and Property Expo (APPEX) in London on the 3-5 March, 2009. Mr David Breeze, Executive Director of Advent and Managing Director of MEC Resources will be presenting at the event. To see the presentation in full click here APPEX Presentation.pdf

Confirmation that Hydrocarbon Gas in Offshore Sydney Basin

2008-11-12T06:19:03Z

A hydrocarbon gas source has been analysed and confirmed in the offshore Sydney Basin. The confirmation of a hydrocarbon based gas analysis was released at the Petroleum Exploration Society of Australia (PESA) "Eastern Australasian Basins Symposium" 14-17 September 2008.

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The confirmation of this type of hydrocarbon gas seepage is an extremely significant development for MEC Resources investee Advent Energy, which holds an interest in the offshore Sydney Basin Petroleum Exploration Permit PEP 11. Active seeps of the nature reported are considered by experts in this field to occur in basins now actively generating hydrocarbons and or that contain excellent migration pathways. The methane gas has been reported by independent testing to comprise a mixture of thermogenic and biogenic gas.
Hydrocarbon gas analysis has been confirmed to be;

Methane(CH4)  90.69%
Oxygen(O2)   1.58%
Carbon Dioxide (CO2 ) 4.12%
Nitrogen(N2)   3.7%

The gas seepage has been observed from repeated sea floor positions in an area off the coast of New South Wales and along the mainland margin of the PEP11 Permit. The gas is believed by Advent Energy to be sourced from areas within the PEP11 permit area.

The area where the gas has been identified is in the same area where oil and gas seeps have been recorded from Long Reef to Catherine Hill Bay, giving rise to periodic oil slicks occurrences along the coast , especially in the Cape Three points, Terrigal area. Visible gas seeps have been audio-visually recorded, and are available to view by clicking here. You may also view the full announcement by clicking here Confirmation Hydrocarbon gas in Offshore Sydney Basin 12.11.08.pdf

Advent Energy Ltd secure $7 Million Funding Agreement

2008-11-11T02:27:07Z

MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has successfully secured a funding agreement that will provide a significant capital raising totalling A$7 million by the issue of 14 million shares at 50 cents per share.

]]> The agreement is subject to conditions which are expected to be satisfied by Advent.
The funds will be used by Advent to progress the PEP11 project off the coast of New South Wales.

Advent is proactively researching joint venture and farm in options for PEP11 and is currently in discussions with a number of interested parties.

Advent has also commenced discussions regarding the provision of rigs for the offshore PEP11 project and expects to advise shareholders of developments by the end of calendar 2008.

View the full announcement by clicking here Advent Energy Ltd - $7 Million Funding Agreement Secured Final BK.pdf

Prospective Recoverable Gas Resources Estimated up to 16.3 Tcf (P10) for PEP11 Offshore Sydney Basin

2008-10-28T03:15:51Z

Prospective Recoverable Gas Resources Estimated up to 16.3 Tcf (P10) for PEP11 Offshore Sydney Basin

· Technical review of PEP11 Offshore Sydney Basin completed

· Six prospects identified with total estimated prospective recoverable gas resources of up to 16.3Tcf (P10)

· Advent currently looking to secure an appropriate drilling rig, including farm-in options

]]> In summary, six prospects and leads have been identified which Advent estimates could have up to 16.3Tcf (P10) prospective recoverable gas resources.

The P50 and P90 estimated prospective recoverable resources are 5.1Tcf and 1.2Tcf respectively.

Advent commissioned specialists from the Nanjing Institute to integrate the PEP11 1981, 1991 and 2004 seismic data for the first time. They have interpreted and mapped five key horizons.

Advent has used these maps to estimate the gross rock volumes to complete a Monte Carlo probabilistic estimation of the range of possible recoveries from each prospect.

Previously published reports and studies were used to estimate the range of values for other parameters such as porosity and gas saturation. These studies have been disclosed in previous ASX Announcements by MEC Resources on 08/08/08, 15/09/08 and 25/09/08.

The P10, P50 and P90 numbers quoted above are an arithmetic sum of the estimates for the six prospects and leads.

Below is a two-way-time map indicating the locations of the six prospects and leads.

The largest of these is the new "Fish" Prospect which alone has a P10 prospective recoverable gas resource of over 9.0Tcf.

Location of Gas Seeps NSW Continental Shelf - Offshore Sydney Basin

2008-09-25T01:22:17Z

The Board of MEC Resources Ltd (ASX: MMR) advise that on 14 September 2008 the Company released details of a report describing geophysical evidence for gas in the offshore Sydney Basin. ]]>
MEC's investee Advent Energy Ltd ("Advent") has now mapped these potential hydrocarbon seepage features (data points classified as potential hydrocarbon seepage by complying with stringent criteria) using data supplied. As indicated by the star highlights in the map below, these seeps are distributed along the continental shelf margin from south of Sydney to north of Newcastle on the Petroleum Exploration Permit 11 (PEP 11) margin.

A further report on the integration of these results is pending

Diagram 1 - Illustration of Sydney Basin continental shelf sea floor and highlighted seep feature locations derived from swath bathymetry and TOPAS sub-bottom profiles acquired as part of Geoscience Australia's research program SS10/2006 with voyage lines indicated.

Advent Energy Ltd is currently in discussions with a number of interested parties regarding the interpretation and evaluation of recent reports and analyses of data released for PEP 11.

MEC Resources Ltd and its investee regard the prospect as being of significance and the Board
is reviewing options to progress the project at PEP 11 which it considers highly prospective for gas.

PEP 11 is a 200km long, 8,100km2 permit in Commonwealth waters covering the offshore Sydney Basin.

Geophysical indications of Gas in Offshore Sydney Basin

2008-09-16T06:19:16Z

MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has received a report from Fred Kroh, former Project Leader of the Geophysical Processing and Data Access Project with Geoscience Australia, describing geophysical evidence for gas in the offshore Sydney Basin, NSW.

The report states that the geophysical data collected as part of Geoscience Australia's NSW Continental Slope Survey SS10/2006 (voyage lines indicated right), especially Swath Bathymetry and TOPAS Sub-Bottom Profiles, have replicated features demonstrated previously (from SS06/2005) to have been derived from implied thermogenic hydrocarbon seepage emanating from the Cornea Oil Field, in the Timor Sea, north western Australia

]]> MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd ("Advent") has received a report from Fred Kroh, former Project Leader of the Geophysical Processing and Data Access Project with Geoscience Australia, describing geophysical evidence for gas in the offshore Sydney Basin, NSW.

The report states that the geophysical data collected as part of Geoscience Australia's NSW Continental Slope Survey SS10/2006 (voyage lines indicated right), especially Swath Bathymetry and TOPAS Sub-Bottom Profiles, have replicated features demonstrated previously (from SS06/2005) to have been derived from implied thermogenic hydrocarbon seepage emanating from the Cornea Oil Field, in the Timor Sea, north western Australia.

The Cornea seepage, published in Marine and Petroleum Geology 23 (2006) pp145-164, was the first time in Australia that active present-day hydrocarbon seepage had been imaged.
The swath bathymetric analysis (SS10/2006) has been published and commented on previously by Geoscience Australia in the March 2008 edition/Issue 89 of AusGeo News.

Here, Kriton Glenn, chief scientist aboard the SS10/2006 voyage states:
"Many remarkable features were also seen for the first time, such as mid slope channels off the Hunter region. Some of these channels have levees and a V shaped morphology, suggesting that both active erosion and deposition are taking place. Additionally, a series of large pockmarks (~600 metres in diameter and ~70 metres deep) were found in water depths exceeding 1300 metres. The ages of the pockmarks are hard to determine, as they are formed as a result of an ongoing gas or liquid escape from much deeper in the geological profile. Seismic data indicate that the fluid is migrating along faults and escaping via these features into the water column. The profiles show little infilling of the steep walls of the pockmarks, indicating an active erosional process."

View the announcement in full by clicking here Geophysical Indications of Gas in Offshore Sydney Basin Announcement