MEC Resources Ltd ( (AU:MMR) ) just unveiled an announcement.
MEC Resources Ltd announced that its investee company, Advent Energy Ltd, is involved in legal proceedings concerning the PEP 11 Joint Venture. The Federal Court of Australia has set a schedule for the judicial review of a decision by the Commonwealth-New South Wales Offshore Petroleum Joint Authority, which refused applications made by the joint venture. This legal action may impact the operations and future prospects of the PEP 11 Joint Venture, potentially affecting stakeholders such as Bounty Oil and Gas Limited and Asset Energy Pty Ltd.
More about MEC Resources Ltd
MEC Resources Ltd is an investment company focused on the energy sector, primarily investing in oil and gas exploration and production companies. Its primary investee company is Advent Energy Ltd, which operates in the offshore petroleum industry.
Current Market Cap: A$7.4M
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