MEC Resources concludes natural gas seismic survey offshore NSW

By Meagan Evans. Published at Apr 20, 2018, in Small Caps

MEC Resources Ltd (ASX:MMR) has provided an update on the PEP11 2D seismic exploration survey offshore NSW explaining to shareholders that the survey has concluded.

A 2D seismic survey of approximately 200 line kilometres has been acquired offshore Newcastle and pursuant to an environment plan accepted by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA). This activity was designed to satisfy the Year 2 work commitment for PEP11.

The survey was undertaken over the Baleen prospect in PEP11, and achieved its acquisition target in three days, as anticipated. It was undertaken at a location predominantly 30 kilometres southeast of Newcastle, and included a tie line to the New Seaclem-1 exploration well site for geological calibration of survey data.

Commenting on the survey, Chairman Goh Hock stated: “We are very pleased that this survey was successfully and safely performed within its planned timeframe paying careful attention and care to the environment in which the survey was operated. It has demonstrated strong capability of the management team to achieve a work commitment that is critical to the success of PEP11. This will contribute to future works to explore for commercial quantities of natural gas that may support the NSW gas consumers, manufacturing industries and electricity generation.”

It’s expected that the data will take approximately two months to complete, with processing due to star shortly. Once the data is processed, interpretation of the newly acquired data and integration into existing data can then proceed.

However it is an early stage of this company’s development and if considering this stock for your portfolio you should take all public information into account and seek professional financial advice.

MMR’s investee Advent Energy Ltd holds an 85% interest in PEP11 through wholly owned subsidiary Asset Energy Pty Ltd.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X