MEC Resources (MMR), holding a 37.95% stake in Advent Energy, reports that Advent’s subsidiary, Asset Energy, has initiated Federal Court proceedings to challenge the decision by the Commonwealth-New South Wales Offshore Petroleum Joint Authority regarding the PEP-11 project. The Joint Authority had previously rejected applications made by the PEP-11 Joint Venture, comprising Advent (85%) and Bounty Oil and Gas (BUY) (15%).
Asset Energy’s application seeks to overturn the decision, declare it void, and have the applications reconsidered. The Federal Court has issued consent orders, requiring the Minister for Industry and Science to provide relevant documents by April 30, 2025. Both parties are mandated to submit affidavits and outlines of submissions according to a strict schedule, culminating in a two-day hearing on September 16 and 17, 2025.
Crucially, the court has also suspended the Joint Authority’s decision, effective from January 16, 2025, until further notice. This suspension provides a temporary reprieve for the PEP-11 project while the judicial review proceeds. The outcome of this legal challenge holds significant implications for the future of the PEP-11 exploration permit and the involved parties’ investment. The next case management hearing is adjourned to July 23, 2025.
