I find this information interesting:
Bounty sees the funding arrangement announced by MEC as an extremely positive step towards drilling
the Fish Prospect in PEP 11.Once the technical basis for testing in the offshore Sydney Basin had been
established by MEC they commenced the challenging task of funding. The technical strength of the
project presented by MEC has now attracted Pareto Group who have raised US $25 billion for a range of
international oil and gas majors in the last 3 years.
Was wondering how MEC would raise $27mill for a speculative wildcat drill. It appears they've managed to attract an investor Pareto Group of Norway. Wonder what sort of security MEC are providing to attain this sort of funding.
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