Advent Energy is a public unlisted oil and gas exploration company based in Perth, Western Australia.
Advent has recently increased its interest to 85% in the PEP11 project, offshore NSW, following the drilling of New Seaclem-1 in December 2010. Work is underway to continue to explore this 8,250 square kilometre permit adjacent to Australia's most populous state.
Of key importance in exploring the area is the numerous offshore oil and gas seeps that have been recorded from Long Reef to Catherine Hill Bay, giving rise to periodic oil slick occurrences along the coast, especially in the Cape Three Points, Terrigal area. In conjunction with direct hydrocarbon indicators (DHI) observed in seismic data, the basin is assessed ascomprising an active petroleum system. The PEP11 permit comprises multi-Tcf targets - the large potential reward of a successful drilling programme creates a very attractive exploration opportunity.
Advent Energy holds 100% of Exploration Permit EP 386 which covers the Western Australian section of the onshore Bonaparte Basin. Fifteen kilometres over the border into Northern Territory, Advent holds 100% of Retention Licence RL-1comprising the Weaber Gas Field. Advent is progressing plans to further evaluate the numerous gas and oil discoveries present in these permits for potential commercial development.
To view the Advent Energy website click here Advent Energy Ltd
MEC invested $655,000 in November 2006 to acquire Asset Energy Pty Ltd. Funds were used to enter into a joint venture agreement with Bounty Oil and Gas NL with regards to New South Wales/Petroleum Exploration Permit 11 - offshore Sydney Basin. Via shareholder resolution in 2008, Asset Energy was acquired from MEC by Advent Energy Ltd.