another announcement received, page-19

NEW SEACLEM-1 DRILLING DEVELOPMENTS ?
IDENTIFICATION OF NEW TARGET

Thick porous Tertiary Sandstone reservoir discovered at New Seaclem-1

MEC Resources (ASX:MMR) investee company Advent Energy Ltd (Advent) has advised of the development
of exciting reservoir understanding following initial interpretation of drilling data from New Seaclem-1.

In the drilling of the New Seaclem-1 well, Advent has collected a considerable volume of valuable and new
information about a previously unexplored area offshore the Australian east coast. One of these discoveries
is the identification of reservoir and seal pairs which consist of high porosity Tertiary sandstones along with
several formational and intraformational seals.

The attached graphics show a seismic line (shown both in Two-Way-Time and Depth) along with the location
of the largest of these sandstones inclusive of well log data. The New Seaclem-1 location was chosen to test
several large stratigraphic features and to collect information about several different depositional units. The
well logs from New Seaclem-1 show this sandstone unit to be:

1. Greater than 40 metres thickness
2. Average porosity of 30%.

The seismic line (oriented southwest to northeast) suggests there is significant updip structural potential
which has not been tested. The size and extent of any structures targetting these reservoirs would require
the collection of additional seismic data.

Further details will be announced in due course.