There has been much commentary about what projects MMR has in addition to PEP11. It is well understood that even in the event that the NOPTA applications are, in the first instance, refused, the titles will continue in good standing while the company proceeds to the Federal Court. In addition to PEP11, the company has the following projects as per the prospectus:-
5.3 Current Investments
As at the date of this Prospectus, the Company holds the following investments:
INVESTEE COMPANY HOLDING $VALUE (APPROXIMATE)
BPH Energy Ltd1 1,436,609 fully paid ordinary shares representing 0.125% - $17,2394
Advent Energy Ltd2 94,118,320 fully paid ordinary shares, representing 37.95% interest in Advent - $4,705,9165
Advent Energy Ltd3 Loan asset - $4,161,1356
MMR now holds in excess of $3M in cash.
Within Advent, in addition to PEP11, the following projects exist:-
1. Clean Hydrogen
Advent has an investment in Clean Hydrogen of 2%. Clean Hydrogen is an entity
incorporated in the United States of America with technology to produce clean hydrogen.
Over the past year, significant developments have occurred by Clean Hydrogen.
Clean Hydrogen has started selling its carbon composite products (as defined below),
moving from proof of concept to commercial production. Clean Hydrogen uses their own
unique patented catalysts and bespoke engineering processes to generate clean
hydrogen and conductive carbon used to manufacture batteries. Clean Hydrogen cracks
hydrocarbons from natural gas using a process called thermo-catalytic pyrolysis.
Importantly, there are no CO2 emissions from the core process since the carbon becomes
a solid carbon composite product rendering natural gas a clean (no CO2 emissions)
source of 2 products: turquoise hydrogen and a solid carbon composite (Carbon
Composite).
Turquoise hydrogen is the industry term used for hydrogen sourced from natural gases,
using thermos-catalytic pyrolysis. Since there are no CO2 emissions, the carbon becomes
solid in the form of a find black dust type material, which in Clean Hydrogen’s case is a
carbon composite made from Carbon Nano-Tubes (CNTs) and Alumina (ceramics). CNT’s
have unusual mechanical properties which make them an ideal class of reinforcement for
Alumina composite, acting as a toughening agent.
Clean Hydrogen and Onshore Energy have entered into a hydrocarbon process
agreement (Process Agreement), whereby the parties propose to develop plans for Clean
Hydrogen to process the hydrocarbons from Onshore Energy 's rights at RL1. Clean
Hydrogen is developing its “Commercial System” where it will satisfy scale and commercial
objectives resulting in the development of income from sale of hydrogen products
produced. The Commercial System means an end-to-end system which consumes and
processes hydrocarbons, using Clean Hydrogen's thermocatalytic process as set out
above.
The Process Agreement is non-binding and binding material contractual terms have yet to
be agreed.
2. Northern Territory – Onshore Bonaparte Basin
Advent’s wholly owned subsidiary, Onshore Energy Pty Ltd (Onshore Energy), holds 100%
of RL1. RL1 is situated in the onshore Bonaparte Basin in northern Australia. Most of the
Bonaparte Basin is located offshore, covering 250,000 square kilometres, compared to just
over 20,000 square kilometres onshore. RL1 is 166 square kilometres in area, which covers
the Weaber Gas Field in the Northern Territory. The prospectivity of the Bonaparte Basin is
evident from the known oil and gas fields in both the offshore and onshore portions of the
basin. Advent has identified significant shale areas in RL1.
Advent has been evaluating the commercialization of RL1 and intends to convert the
retention licence into a production licence. Onshore Energy has commenced the
regulatory processes to enable a re-entry to the Weaber-4 well and has prepared and
submitted a Well Operations Management Plan and an Environmental Management Plan.
On 3 May 2024, Advent was issued a renewal of RL1 for a five-year term commencing on
8 May 2024.
So if you happen to read posts stating that MMR has no viable projects, there is no evidence of such, and those posts should be considered false and misleading.
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