MEC RESOURCES LIMITED — Capital/Financing Update 2010

May 19, 2010

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20 May 2010

Companies Announcement Office Australian Securities Exchange Limited 10th Floor, 20 Bond Street SYDNEY NSW 2000

Advent Energy PEP11 Seismic Reprocessing and Site Survey

MEC Resources Ltd (ASX: MMR) is pleased to advise that following investee Advent Energy Ltd’s completion of the successful reprocessing of the 2004 2D seismic data, two further potential drilling targets have been identified within PEP11, off the coast of NSW, Australia.

Subsequently, Advent has expanded its current site survey program to include these new sites. The site survey data acquisition is scheduled to be complete before the end of May.

Advent is focused on drilling a single exploration well with the semi-submersible drilling rig Ocean Patriot , scheduled for the third quarter 2010.

Yours faithfully,

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David Breeze Media Enquiries: Executive Director Bill Kemmery MEC Resources Ltd Fortbridge Consulting Tel: +61 2 9331 0655 Mobile: +61 400 122 449

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 Corporate (ASX: BPH) and Talbot Group Investments. Advent holds a strong portfolio of exploration and near-term production assets throughout Australia. Advent’s cornerstone project lies off the coast of NSW in Petroleum Exploration Permit 11 (PEP11), and comprises gas prospects of multi-Tcf capacity. Advent Energy’s wholly owned subsidiary Asset Energy Pty Ltd will increase its interest from 25% to 85% of PEP11 by drilling the first well. Bounty Oil and Gas (ASX:BUY) will thereby reduce their interest from 75% to 15%.

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 do not represent MEC’s investees’ equity share.