MEC Resources Limited Reports Earnings Results for the Half Year Ended December 31, 2022

MEC Resources Limited is an Australia-based company, which invests in a variety of industries, including companies in the energy and mineral resources sector. The Company has a non-controlling interest in the energy explorer Advent Energy Ltd (Advent) of 38.27%. Advent is engaged in the onshore and offshore exploration and near-term development assets around Australia and overseas. It holds a portfolio of near-term development and exploration assets spanning prospective acreage onshore and offshore Australia in petroleum basins. Advent asset base also incorporates both conventional and unconventional petroleum targets. Its assets include petroleum exploration permits PEP11 (85%) in the offshore Sydney Basin and retention license RL1 (100%) in the onshore Bonaparte Basin in the Northern territory. Advent, through its subsidiary, Asset Energy Pty Ltd, holds 85% of Petroleum Exploration Permit PEP 11, an exploration permits prospective for natural gas located in the Offshore Sydney Basin.