MMR Provides Update on PEP 11 Federal Court Proceedings

MEC Resources Limited (ASX: MMR) has outlined developments concerning its 37.95% investment in Advent Energy Limited and the offshore PEP 11 exploration permit. Advent, via its wholly owned subsidiary Asset Energy Pty Limited as permit operator, together with Bounty Oil & Gas NL (ASX: BUY), has concluded Federal Court proceedings challenging the Joint Authority’s earlier refusal to grant variations and extensions to the PEP 11 permit.

The judicial review application was heard in Sydney across two sitting days, 20 and 23 February 2026, before Justice Jackson. The Court considered affidavit material, agreed documentary evidence, and detailed legal submissions presented both in writing and orally. The matter has been reserved for judgment, with the Court’s decision to be delivered in due course.

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