Thank you all for the continued support and perspectives...

Thank you all for the continued support and perspectives provided.

Funds raised to date have supported Advent Energy through the preparation stages for the forthcoming 2D seismic program. This includes NOPSEMA fees (nearly $100k), noise modelling, stakeholder consultation, environmental planning development (and modification/revision) and geophysical support.

Additionally, the Company has in the last 10 months had to
(i) find new offices following fallout from former MD;
(ii) manage two specially requisitioned meetings of shareholders earlier in the year due to demands from former MD and his associates;
(iii) address an unjustified claim from former MD/associates from Takeovers Panel for a simple rights issue - note no investment was made by former MD/associates despite claims of dilutionary effect of rights issue;
(iv) protect the company's rights including recovery of confidential material upon termination of former MD's contract - this included, but was not limited to, shareholder records which the company has claimed in the courts were unlawfully used by former MD in his attempts to contact you, our shareholders, in the circumstances surrounding (ii) above. Potential penalties are severe; and
(v) enforce obligations under a formal loan agreement with BPH (former MD is chairman/MD) for the return of outstanding funds (now $350k +) rightfully owed to the company. Note, there is no dispute as to whether these funds are owed to the Company, however BPH is still yet to pay these undisputed amounts. The Company even voluntarily suspended pursuit of these rightful claims in good faith to receive a proposal from BPH and associates to consider 'global settlement' of disputes. No tangible or credible offer was received, funds have still not been rightfully returned to the Company and we are forced again to return to the courts to obtain what is rightfully and clearly belonging to the Company.

We remind shareholders that in this period of transition the Company's directors have voluntarily reduced  fees to $1 only. Note, other Companies' directors may continue to accrue directors fees, but that is not the case at MEC Resources. The directors recognise that balance sheet liabilities contribute to the overall attractiveness of the Company as an investment destination and have taken this course of action, despite the clear threats currently facing the Company.

Thanks again for the support received and perspectives provided. We continue to strongly support the investments of the Company, work hard to build shareholder wealth and achieve results.