MEC RESOURCES LIMITED — Investor Presentation 2009

Oct 20, 2009

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21 October 2009

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

Dear Sir/Madam

Advent Energy Presentation

Eco Investor Forum, 21 October 2009, Sydney.

MEC Resources Ltd (ASX:MMR) advises that its investee entity Advent Energy Ltd (Advent) is presenting today at the Eco Investor Forum, Sydney.

A copy of the presentation is attached.

Yours Sincerely

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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

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. Please refer to relevant ASX releases for details and attribution. Unless otherwise stated all resource and reserve reporting complies with the relevant standards.

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

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PEP 11 – Offshore Sydney Basin

Eco Investor Forum 21 October 2009

Investment Highlights

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�CORNERSTONE PROJECT – OFFSHORE SYDNEY BASIN

Petroleum Exploration Permit (PEP) 11. Advent Earning 85%

• �Permit potential of 16.3 Tcf (P10) prospective recoverable resources plus liquids

• �8,250 km[2] undrilled highly prospective area, adjacent (<50km) to Australia’s largest market and massive infrastructure

• �Excellent analogies to world class producing fields

• �Robust economics: NPV10 >A$12 billion potential at P50 level => potential >170 x uplift in equity value

• �Massive Upside to Success

• �Superb Location With Competitive Advantage

• �Potential Reserves Would Support Export LNG Project

�Proven board & management team

• �Former leadership positions in major O&G companies and oilfields

�Portfolio of onshore and offshore permits with near-term production potential

• �Drilling in early 2010 Taking advantage of significant reduction in rig rates / unused rig slots

PEP11: Massive Potential for Impacting Australia’s CO2 Emissions

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• (Onshore) Sydney Basin comprises 11 stationary coal-fired power generators that emit 34% of Australia’s national CO2 emissions (CO2CRC RPT05-0020)

• Converting these to gas fired power stations could reduce Australia’s CO2 emissions by 17%

[assuming gas fired power generation emits 50% CO2 as coal fired power generation]

• Historically, all NSW gas sourced from Cooper Basin + Gippsland Basin –

• declining rapidly

• Coal Seam Gas earmarked for LNG export – Gladstone, Qld, and proposals for Newcastle, NSW

• PEP11 in supreme location for future gas provision to Australia’s largest market

Advent Energy Ltd – Investment Proposal

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�Advent undertaking seed capital raising of AUD 27.5m, representing 38.2% of the Company pre Initial Public Offering

�Advent is also evaluating a stock exchange listing for 2010

�To date, AUD 7m of the 27.5m raising has been committed by Talbot Group Holdings

�AUD 14m agreement with BPH (ASX: BPH)

�Residual raising available

�Investor requirements: Aust s708 compliant - international/institutional, ’sophisticated’ investors

�Post Issue Corporate Structure:

Portfolio – Offshore Sydney Basin PEP11

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•Advent has right to increase its interest to 85% from 25% in PEP11 by drilling one well.

•PEP11 covers over 8,250km[2] and lies directly adjacent to the heavily populated and industrialised central coast of NSW. Major prospects are located less than 50km from Sydney and Newcastle.

•No drilling has taken place in the offshore Sydney Basin. Since 1910, 66% of onshore petroleum exploration wells have shown hydrocarbons and 41% have flowed gas on test.

•For 175 years coal has been mined from the Newcastle coalfields in the Hunter Valley.

•Comparisons with Moonie Oil Field

•Active hydrocarbon seepage has been detected along the PEP11/continental margin

•LandSat imagery interpretation demonstrates repeated slicks over the Baleen prospect.

•Inshore hydrocarbon seepage has been analysed to reveal a thermogenic source.

•Significant hydrocarbon and migration features have been observed in 1981,1991 and 2004 seismic profiles.

• •Features include gas chimneys, HRDZs, anomalous AVO, reverse polarity events, and possible flat spots.

Portfolio – Offshore Sydney Basin/PEP11 (cont’d)

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• •Prospective recoverable resource estimates have been independently validated:

• •Integration of 1981, 1991, and 2004 seismic data has confirmed Baleen and Fish prospects as constituting very large prospective structures

• •Combined total prospective resources for the permit’s prospects and leads are estimated at up to 16.3 Tcf (P10) of recoverable gas, 13.8 Tcf Net to Advent

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• •Plus three new leads identified of prospective multi-Tcf Original Gas In Place (OGIP)

• •Advent is currently negotiating to secure a rig slot to drill PEP11 during 2010. Environmental Approvals have been lodged; drilling engineering design and well testing design has been completed.

Portfolio – Offshore Sydney Basin/PEP11 (cont’d)

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Brazilian Oil Field Analogue
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Portfolio – Offshore Sydney Basin/PEP11 (cont’d)

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Slope Failure
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Norway:
Ormen
Lange
14 Tcf
Source: European Commission
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Norway: 5 [th] largest oil
2 [nd] largest gas
(global exports)
Source: EIA and IEA
Production
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Sydney Basin Continental Margin

Slumps: over 28 cu. km

Portfolio – Offshore Sydney Basin/PEP11 (cont’d)

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Redox Anomaly
Gas Bubbles/Thermogenic
Hydrocarbon Seepage
Mound
Amplitude Anomaly;
Brazilian Analogue
Gas Chimney AVO
Apparent
Gas
Reservoired
at 1.0 – 2.2
sec TWT Flat Spot? Pockmark
HRDZ
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Total Depth
B4-15 Full Stack seismic data
CSIRO: “AVO analysis shows indication of
class III AVO classification. Class III AVO
anomaly generally stands for gas sands.”
“Soft” high amplitude
reflectors
B A
Fugro; John Cant Validation
Zones of interest
Zones of Interest
Line B4-15
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Portfolio – Offshore Sydney Basin/PEP11 Market Dynamics

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The LNG Industry’s historical inflection point 2005

Strategy

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>> Demonstrate the value potential in PEP11 offshore Sydney Basin

Exploration drilling during 2010

• Gas Price of A$7 (US$5) per Mcf,

• Initial well productivity of 30 MMcfg/d

• Development well costs of US$17MM/well

• Facilities & pipeline Capex of US$240MM, Opex of US$0.30/Mcf

• •Fish Prospect (P50) 2.37 Tcf has an NPV10 of A$5.156 billion and an IRR of 177%

• RPS Group completed environmental approvals / Du-El Drilling Services

• completing well construction + project management

• •Advanced stage of negotiations for drilling rig

• Seeking equity and/or farmin partners

Follow up 3D seismic programme (uncommitted) >Follow up appraisal / exploration well(s) (uncommitted) >Evaluate development scenario(s) / attract major partner

Production => cashflow from other assets: EP325 / EP386+RL1 anticipated within 18 months

Existing corporate activity under consideration

Contributions Gratefully Acknowledged and References

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Data, advice, review and technical contributions gratefully acknowledged •Jim Dirstein - -Total Depth - Principal Geophysical Consultant PTEM survey •Fred Kroh –Formerly Project Leader of Geophysical Processing and Data Access Project - Geoscience Australia •Tim Berge –Geophysical Consultant - •Deet Schumacher -Terraliance •Dan Orange •Fred Aminzadeh •David Connolly •Michael Abrams •Professor Ron Boyd –Newcastle University •Andrew Mayo –Macquarie Oil – •Kriton Glenn –Geoscience Australia • Ben Clennel , Asrar Talukder and team (CSIRO Subsurface Prediction and Description ) •Geoff O’Brien –Formerly Geoscience Australia •Ding Gui Ming –Principal Geological Consultant •Associate Professor Jock Keene –Sydney University •Kevin Ruming - School of Environmental and Life Sciences University of Newcastle •BOS •Oil Hunters •Bounty Oil •RPS •BGP •John Cant •Allan Williams -NPA •Mike Rego – Aminex •Tom Fontaine •Fugro •Geosience Australia •Crown Minerals NZ •Kieth Woolard •David Orth •David Remus

Publications •AAPG Memoirs ”Hydrocarbon migration and its Near surface Migration” •Judd A and Hovland M “Seabed Fluid Flow” •Whelan J Marine Chemistry and Geochemistry, Woods Hole Oceanographic Institution “Dynamic gas driven petroleum systems” and Whelan J et al “Surface & subsurface manifestations of gas movement through a N-S transect of the Gulf of Mexico” •Government of NSW “New South Wales Petroleum Potential” •NSW Department of Mineral Resources •Alder et al “Prospectivity of the Offshore Sydney Basin –A New Perspective“ •Frog Tech Pty Ltd •Aftenbladet Multimedia •The European Commission “The Deep Sea Frontier” •Aminzadeh, F., de Groot, P., Berge, T. et al “Determining Migration Pathway from seismically derived Gas“ •Geoscience Australia –Patchett.A and Langford. R.”New South Wales –Deep Saline Aquifer Storage Potential” •Geoscience Australia Glenn. K “Revealing the continental Shelf off New South Wales” •Aminzadeh F Connolly D and Ligtenberg H “Hydrocarbon Phase detection and other applications of Chimney Technology” •Dietmar Schumacher, Surface geochemical exploration for oil and gas: New life for an old technology Geo-Microbial Technologies, Ochelata, Oklahoma, U.S.The Leading Edge •Michael A. Abrams “Significance of hydrocarbon seepage relative to petroleum generation and entrapment” Marine & Petroleum Geology •AAPG Conference Geoffrey W O’Brien, Andrew Barrett, and Megan Lech .”Integrating 3D Seismic data and multiple, independent remote sensing technologies to constrain near- surface Hydrocarbon Migration and Seepage Rates and Leakage Mechanisms on the North-western Australian Margin” •Journal of Geophysical Research, The world’s most spectacular marine hydrocarbon seeps (Coal Oil Point, Santa Barbara Channel, California): •Marine & Petroleum Geology N. Rollet, GA Logan, JM Kennard, PE O’Brien, AT Jones, M Sexton Characterisation and correlation of active hydrocarbon seepage using geophysical data sets: An example from the tropical, carbonate Yampi Shelf, Northwest Australia •Daniel Lewis Orange The implications of Hydrocarbon seepage, gas migration and fluid overpressures to frontier exploration and geohazards •Dietmar Schumacher AAPG Hedberg Conference Near Surface Hydrocarbon Migration; Mechanisms and seepage rates The Dynamic Nature of Hydrocarbon Microseepage: An Overview •O’Brien et al “Yampi Shelf Brows Basin –Northwest Shelf “ •Cowley R & O’Brien ”Identification and interpretation of leaking hydrocarbons using seismic data“ •Kroh F Reprocessing shows AVO potential for petroleum exploration Geoscience Australia

Risk Factors

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A number of risk factors may adversely affect Advent Energy Ltd (“Advent” or the “Company”) and its subsidiaries (Advent and its subsidiaries collectively the “Group”). Below is a brief summary of some of the risk factors relevant for the Group. Any of the following risks could cause the trading price of securities issued by Advent to decline, and all or part of an investment being lost. Please note that the risks described below are not exhaustive, and other risks not discussed herein may also adversely affect the Group, its operations and future prospects.

The Group is dependent on its ability to find, appraise, acquire, develop and commercially produce oil and gas reserves. The Group is dependent on its ability to appraise, find, acquire, develop and commercially produce oil and gas reserves. The Group must continually locate and develop or acquire new reserves to replace reserves that are being depleted by production. Significant expenditure is required to establish the extent of oil and gas reserves through seismic and other surveys and drilling and there can be no certainty that oil and gas reserves will be found. Reserves and resources information represents estimates which may be inaccurate or incorrect The reserves and resources data included in this Presentation are estimates. In general, estimates of the quantity and value of economically recoverable oil and gas reserves and resources and the possible future net cash flows are based upon a number of variable factors and assumptions, all of which may vary from actual results. The Group's estimates of its contingent and prospective resources are uncertain and can change with time and there can be no guarantee that the Group will be able to develop these resources commercially. Substantial investment will be necessary in the future The Group will be required to make substantial capital expenditure for the acquisition, exploration, development, production and abandonment of oil and gas reserves and facilities in the future. Such capital expenditures could be covered by revenues, new equity or by obtaining new debt. If the Group’s revenues decline, if the Company is unable to attract investors to increase the Company’s equity, or if new debt arrangements are not accessible, or only on unattractive commercial terms, the Group will experience a limited ability to undertake or complete future exploration programs, development investments, acquisitions. Oil and gas prices may not remain at their current levels The profitability and cash flow of the Group’s operations will be dependent upon the market price of oil and gas. It is impossible to predict accurately future oil and gas price movements. Accordingly, oil and gas prices may not remain at their current levels. The economics of developing or producing from some of the Group's prospects, reserves or wells may change as a result of lower prices, which could result in a reduction in the volumes of the Group's reserves if some are no longer economically viable to develop. This could result in a material decrease in the Group's net production revenue causing a reduction in its oil and gas acquisition, development and exploration activities and financial condition. Changes in the legislative and fiscal framework may affect profitability Changes in the legislative and fiscal framework governing the activities of the companies engaged within the oil and gas sector may have a material impact on exploration and development activity or directly affect the Group’s operations. In particular, changes in political regimes will constitute a material risk factor for the Group’s operations in foreign countries. Further, the Group is faced with increasingly complex tax laws. The amounts of taxes the Group pays could increase substantially as a result of changes in, or new interpretations of, these laws, which could have a material adverse effect on its liquidity and results of operations. In order to conduct its operations in compliance with applicable laws and regulations, the Group must obtain licenses and permits from various government authorities. The Group may incur substantial costs in order to maintain compliance with these existing laws and regulations and additional costs if these laws are revised or if new laws affecting the Group's operations are passed. Furthermore, there can be no assurance that the Group will be able to obtain all necessary licenses and permits that may be required to carry out exploration, development and production operations on its properties. The Group is subject to environmental and HSE risks All phases of the oil business present environmental risks and hazards and are subject to environmental regulation pursuant to a variety of international conventions and state and municipal laws and regulations. Compliance with environmental legislation can require significant expenditures and a breach may result in the imposition of fines and penalties, some of which may be material. The failure to comply with current HSE laws and regulations has and may in the future result in regulatory action, the imposition of fines or the payment of compensation to third parties. The Group operates in a highly competitive market The oil and gas industry is highly competitive in all its phases. The Group competes with other market players, some of which have greater financial resources, staff and facilities than those of the Group. Due to the strong competitive environment, the Group may be unable to acquire attractive suitable assets and to retain or recruit key personnel. As a result, the Group's revenues may decline over time and adversely affect its results of operations or financial condition. Lack of Due Diligence Investigations No independent due diligence investigations have been conducted prior to the offer set out in this presentation, and the Company may be subject to material losses or claims which the Company is not aware of at the date of this presentation. Financial Risk Financial risk include the risk that the Company’s debt arrangements may restrict the Group’s business going forward, the risk of not being able to refinance existing debt, the risk of not being able to comply with covenants of a general, financial and technical nature, and risk associated with exchange rate fluctuation. Other Operational Risk While the Group operates most of its assets, it is not the operator of some of its current exploration assets. A third party operator’s mismanagement of an asset may result in delays or increased costs to the Group. While the Group has purposefully acquired interests in assets that are operated by operators it believes to be reputable, there can be no assurance that the operator will observe such standards or requirements. Further, the Group holds interests in exploration licenses in their initial terms. The early stages or exploration period of a license commonly involves the highest levels of risk. These phases of the license term require the high levels of relatively speculative capital expenditure without a commensurate degree of certainty of a return on that investment.

Disclaimer

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This Presentation has been prepared by Advent Energy Ltd (the “Company” or “Advent”), solely for use at the presentation to investors held in connection with the proposed private placement of shares by the Company and may not be reproduced or redistributed, in whole or in part, to any other person. To the best of the knowledge of the Company and its board of directors, the information contained in this Presentation is in all material respects in accordance with the facts as of the date hereof, and contains no material omissions likely to affect its import. However, neither the Company nor its directors, makes any representation or warranty (express or implied) as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, none of the Company or any of their parent or subsidiary undertakings or any such person’s directors, officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this Presentation. This Presentation also contains information obtained from third parties. Such information has been accurately reproduced and, as far as the Company is aware and able to ascertain from the information published by that third party, no facts have been omitted that would render the reproduced information to be inaccurate or misleading. This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words “believes”, expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”, “foresees”, “anticipates”, “targets”, and similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. None of the Company or any of their parent or subsidiary undertakings or any such person’s directors, officers or employees provide any assurance that the assumptions underlying such forward-looking statements are free from errors, nor do any of them accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments. The Company does not assume any obligation, except as required by law, to update any forward-looking statements or to conform these forward-looking statements to our actual results. AN INVESTMENT IN THE COMPANY INVOLVES RISK, AND SEVERAL FACTORS COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS THAT MAY BE EXPRESSED OR IMPLIED BY STATEMENTS AND INFORMATION IN THIS PRESENTATION, INCLUDING, AMONG OTHERS, RISKS OR UNCERTAINTIES ASSOCIATED WITH THE COMPANY’S BUSINESS, SEGMENTS, DEVELOPMENT, GROWTH MANAGEMENT, FINANCING, MARKET ACCEPTANCE AND RELATIONS WITH CUSTOMERS, AND, MORE GENERALLY, GENERAL ECONOMIC AND BUSINESS CONDITIONS, CHANGES IN DOMESTIC AND FOREIGN LAWS AND REGULATIONS, TAXES, CHANGES IN COMPETITION AND PRICING ENVIRONMENTS, FLUCTUATIONS IN CURRENCY EXCHANGE RATES AND INTEREST RATES AND OTHER FACTORS. SHOULD ONE OR MORE OF THESE RISKS OR UNCERTAINTIES MATERIALISE, OR SHOULD UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THIS PRESENTATION. By attending or receiving this Presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company’s business. All inquiries relating to this Presentation should be directed to the Company. No other persons has been authorized to give any information, or make any representation on behalf of, the Company in connection with the private placement and, if given or made, such other information or representation must not be relied upon as having been authorized by the Company. This Presentation is confidential and is being communicated in the United Kingdom to persons who have professional experience, knowledge and expertise in matters relating to investments and are "investment professionals" for the purposes of article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 and only in circumstances where, in accordance with section 86(1) of the Financial and Services Markets Act 2000 ("FSMA") the requirement to provide an approved prospectus in accordance with the requirement under section 85 FSMA does not apply. Consequently, the Investor understands that the private placement may be offered only to "qualified investors" for the purposes of sections 86(1) and 86(7) FSMA, or to limited numbers of UK investors, or only where minima are placed on the consideration or denomination of securities that can be made available (all such persons being referred to as "relevant persons"). This Presentation is only directed at qualified investors and investment professionals and other persons should not rely on or act upon this Presentation or any of its contents. Any investment or investment activity to which this communication relates is only available to and will only be engaged in with investment professionals. This Presentation (or any part of it) is not to be reproduced, distributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (excluding an investment professional’s advisers) without the prior written consent of the Company. IN RELATION TO THE UNITED STATES AND U.S. PERSONS, THIS PRESENTATION IS STRICTLY CONFIDENTIAL AND IS BEING FURNISHED SOLELY IN RELIANCE ON APPLICABLE EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. THE SHARES HAVE NOT AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, UNLESS AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT IS AVAILABLE. ACCORDINGLY, ANY OFFER OR SALE OF SHARES WILL ONLY BE OFFERED OR SOLD (I) WITHIN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, ONLY TO QUALIFIED INSTITUTIONAL BUYERS (“QIBs”) IN PRIVATE PLACEMENT TRANSACTIONS NOT INVOLVING A PUBLIC OFFERING AND (II) OUTSIDE THE UNITED STATES IN OFFSHORE TRANSACTIONS IN ACCORDANCE WITH REGULATION S. ANY PURCHASER OF SHARES IN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OF U.S. PERSONS, WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS AND ACKNOWLEDGEMENTS, INCLUDING WITHOUT LIMITATION THAT THE PURCHASER IS A QIB. The distribution of this Presentation may in certain jurisdictions be restricted by law. Persons in possession of this Presentation are required to inform themselves about and to observe any such restrictions. This Presentation does not constitute an offer of, or an invitation to subscribe or purchase, any of the Company’s shares or bonds. This Presentation speaks as of XX XXXX 2009. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date.