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The MEC Resources Ltd $2.01/share Party, page-9

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Apolloz

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16/06/25

16:32

Post #: 79451931
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Originally posted by Flambeau: ↑

Figure 1: Adapted from @VOGC, 08/05/22, 20:30, Post #:61276815 this spread sheet screen shot displays the suspected "prospective resource"³ for the PEP-11 permit, attributed to ASX:MMR (37.95%)⁴. Using the method of insitu value AUD$/GJ for only the P50 prospective resource, including the smoothing of the value additions from field development (for simplification) we come to ~$0.40/share, after NOPTA approval, and after wireline logging (post drill). Note, the use of $8.5/GJ used for simplicity, the current average is far above this.

Figure 2: Long term gas market price data according to the AER. source:https://www.aer.gov.au/wholesale-markets/wholesale-statistics/gas-market-pricesThe average of which is$8.6/GJ. It should be noted... this is conservative estimate considering over the last 2yrs it has been pegged at $12/GJ, we will remove this outlier... but if we included it... it would be more.

A more respectable industry costing would be to use the "full lifecycle cost", ideally you would average all the offshore reserves (but I am unlikely to obtain a data set that is that relevant, so instead, we will use the following).

Figure 3: Full life cycle cost of 2P reserves, adapted fromhttps://www.accc.gov.au/system/files/Core%20Energy%20report%20for%20ACCC%20-%20November%202018.pdfAn average of the "weighted" 2P reserves, life cycle cost, is about$6.6/GJ.

Figure 4: An extract from CSIRO, detailing the cost per kilometre of ~$4.5million per kilometre for pipeline projects source:http://www.cofs.uwa.edu.au/__data/assets/pdf_file/0018/2343510/FINAL-Subsea-Pipeline-Cluster-Report-56pp.pdfAdvent's proposed concept plan details ~27km, which would cost ~$121.5million according to Figure 3.

References:
1- Long term gas market price data according to the AER. source:https://www.aer.gov.au/wholesale-markets/wholesale-statistics/gas-market-pricesThe average of which is$8.6/GJ. (Nov 2022)
2- Full life cycle cost of 2P reserves, adapted fromhttps://www.accc.gov.au/system/files/Core%20Energy%20report%20for%20ACCC%20-%20November%202018.pdfAn average of the "weighted" 2P reserves, life cycle cost, is about$6.6/GJ. (2018)
3- ASX:BPH, 21/03/2023, BPH Energy Limited - Clarification Announcement https://announcements.asx.com.au/asxpdf/20230321/pdf/45mx1qfppmj7p7.pdf
4- "MEC has a non-controlling interest in the unlisted energy explorer Advent Energy Ltd ("Advent") of 37.95%" 23/04/2025, ASX:MMR, https://www.asx.com.au/markets/company/mmr
5- "MMR: Ordinary Fully Paid 1,831,807,078". 24 Jan 2025, ASX:MMR, Application for quotation of securities - MMR https://www.asx.com.au/markets/trade-our-cash-market/announcements.mmr

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Numbers numbers and more numbers....

all I want is a word - APPROVED

NUMBERS will follow the word.... UP

Till then cometh 25th June!!!

MMR Price at posting: 0.5¢ Sentiment: Buy Disclosure: Held
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