Ann: Advent Energy - Preliminary Well Services Agreement, page-7

MEC has gone above the 30% threshold before, under temporary approval from the PDF board, according to previous announcements. Irrespective of that, obviously they have not enough cash at the moment to invest, but could put in 30% of whatever funds they raise in future.

vcubitt, weren’t you pretty adamant in previous posts that you just wanted MEC to focus on PEP11? The PDF restriction is probably why the last board was looking to diversify.... Funny when Breeze stated upon resuming control of MEC that he’d focus on PEP11 and that there were no new investments being considered. But now he tells you he can’t put any money into PEP11 now. Maybe he’s just shot himself in the foot?! He was obviously well aware of the PDF act considering his previous 10 years guiding MEC.