MEC Resources (ASX:MMR) is pleased to announce that it has been advised by investee company Advent Energy Ltd that all conditions of the agreement between the Talbot Group and Advent (ASX: MMR 11 November 2008) have been satisfied. Advent has now issued Talbot Group Investments with 14,000,000 shares in consideration for the $7,000,000 received. The funds will be used by Advent to progress the PEP11 project off the coast of New South Wales.
GBA Price at posting:
18.5¢ Sentiment: None Disclosure: Held