MEC RESOURCES LIMITED — Capital/Financing Update 2010

Feb 25, 2010

==> picture [130 x 57] intentionally omitted <==

26 February 2010

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

Dear Sir,

ADVENT ENERGY PEP11 O PERATIONAL UPDATE

MEC Resources’ investee Advent Energy Ltd is pleased to advise that it has commenced procurement of long lead items and selected/awarded key service providers for the drilling of PEP 11 in the offshore Sydney Basin. Key contracts include:

• Wellhead and surface conductor;

• Casing and

• Helicopters.

By engaging these key suppliers Advent is well prepared for its anticipated drilling later in 2010.

Yours faithfully,

==> picture [154 x 48] intentionally omitted <==

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

Media Enquiries: Bill Kemmery 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. 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 has been estimated to comprise up to 16.3 Tcf (P10 or ‘high’ level) prospective recoverable gas resources.

Advent Energy’s wholly owned subsidiary Asset Energy Pty Ltd is increasing its interest from 25% to 85% from joint venture partner Bounty Oil and Gas (ASX:BUY) who will 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.