Hi Kenjul, MEC is a listed pooled development fund (essentially...

Hi Kenjul,

MEC is a listed pooled development fund (essentially a venture capital company that must also follow the Pooled Development Fund Act 1992). It was a scheme set up in the early 90's to encourage investment into higher risk ventures and small-medium sized enterprises ('SMEs'). Further info is available here: https://www.business.gov.au/assistance/pooled-development-funds

So MEC has to invest in other companies. Its main investment at the moment is in Advent Energy Ltd, an unlisted (not on ASX or other exchange yet) but public company which holds petroleum titles around Australia. Advent Energy holds 85% of PEP11. This interest is held by a wholly owned subsidiary of Advent Energy called Asset Energy Pty Ltd.

Hope this makes sense!