BPH ENERGY LTD — Capital/Financing Update 2016

Jun 22, 2016

==> picture [138 x 61] intentionally omitted <==

23 June 2016

Companies Announcement Office Australian Securities Exchange Limited 20 Bridge Street SYDNEY NSW 2000

INFRASTRUCTURE DEVELOPMENT TO SUPPORT ADVENT ENERGY’S RL1 PROJECT

MEC Resources Limited (ASX:MMR) is pleased to advise that infrastructure funding is to be applied in the Northern Territory that will provide considerable benefit to investee Advent Energy Limited (“Advent”) and its 100% held RL1 (Weaber Gas Field) project.

The Prime Minister Malcolm Turnbull’s Coalition Campaign Headquarters has announced that the Keep River Road will benefit from a funding package to boost important freight and economic development infrastructure upon the Federal Coalition’s re-election. The announcement is available at www.mecresources.com.au/KeepRiverRoadFunding.pdf.

The Keep River Road on the NT’s border with Western Australia has been named as a funding recipient because of its proximity to the Project Sea Dragon aquaculture development and to potentially open up Stage Three of the Ord scheme. A funding allocation of $40 million has been announced. As previously announced Advent Energy has entered into a Letter Of Intent for the possible future supply of gas to Project Sea Dragon.

The Keep River Road runs directly through Advent Energy’s RL1 project, coming to within 4.5 km of the Weaber-4 well which is cased and suspended as a future producer.

A 2C Contingent Resource of 11.5 Bcf (1C is 0.3 Bcf and 3C is 45.8 Bcf) for the Weaber Gas Field (RL1) has been assessed by an independent third party as a component of Advent’s drive to commercialise its 100% owned onshore Bonaparte Basin assets. Included in these assets in EP386 recoverable resource estimates range from 53.3 Bcf (Low) to 1,326.3 Bcf (High) of Prospective Resources, with a Best Estimate of 355.9 Bcf of gas. EP386 also holds the Waggon Creek-1 and Vienta-1 wells cased and suspended as future producers.

The rapid development of the Kununurra region in northern Western Australia, including the Ord Irrigation Expansion Project and numerous resource projects, provides an exceptional opportunity for Advent to potentially develop its nearby gas resources for the benefit of the region along with Advent and its shareholders. The funding of the Keep River Road upgrade will be a significant development in this objective.

Advent’s major shareholders remain MEC Resources (ASX: MMR), BPH Energy (ASX: BPH), Talbot Group and Grandbridge (ASX: GBA).

Yours sincerely,

==> picture [163 x 51] intentionally omitted <==

David Breeze Executive Director MEC Resources Ltd PO Box 317 North Perth WA 6906 Tel: +61 8 9328 8477

About MEC Resources

ASX listed MEC Resources (ASX: MMR) invests into exploration companies targeting potentially large energy and mineral resources. The Company has been registered by the Australian Federal Government as a Pooled Development Fund enabling most MEC shareholders to receive tax free capital gains on their shares and tax free dividends.

About Advent Energy

Advent Energy Ltd is an unlisted oil and gas exploration company held by major shareholders MEC Resources (ASX: MMR), BPH Energy (ASX: BPH), Grandbridge (ASX: GBA) and Talbot Group Investments. Advent holds a strong portfolio of near term development and

exploration assets spanning highly prospective acreage onshore and offshore Australia in proven petroleum basins. Advent Energy’s asset base also incorporates both conventional and unconventional petroleum targets.

Notes: In accordance with ASX listing requirements, the geological information supplied in this report has been based on information provided by geologists who have had in excess of five years’ experience in their field of activity.

MEC is an exploration investment company and relies on the resource and ore reserve statements compiled by the companies in which it invests. All Mineral Resource and Reserve Statements have been previously published by the companies concerned. Summary data has been used. Unless otherwise stated all resource and reserve reporting complies with the relevant standards. Resources quoted in this report equal 100% of the resource and may not represent MEC’s investees’ equity share.

==> picture [439 x 586] intentionally omitted <==

MEC Resources Ltd

ACN 113 900 020 PO Box 317, North Perth, WA 6906 14 View Street, North Perth 6006, Western Australia T: +61 8 9328 8477 F: +61 8 9328 8733 info@mecresources.com.au www.mecresources.com.au