Highlights
- BPH's investee Advent Energy Limited, through Asset Energy Pty Ltd, has appointed Klarite Pty Ltd to manage the environmental aspects of the Seablue-1 exploration well.
- The Federal Government Future Gas Strategy (FGS) emphasises the need for new domestic gas supplies and supports environmental approval efforts.
- Asset Energy is working on securing environmental approvals ahead of PEP 11 licence application approval to be ready for drilling.
Asset Energy Pty Ltd, a subsidiary company of Advent Energy Limited, which is an investee of BPH Energy Limited (ASX: BPH), has announced the appointment of Klarite Pty Ltd to undertake environmental management at the Seablue-1 exploration well. This well is planned to be drilled within PEP 11. The drilling is subject to regulatory approvals, availability of rig, and applications for licence extension, variation and suspension.
Bounty Oil & Gas NL (ASX:BUY) is one of the registered holders of PEP 11.
BPH shares jump
BPH shares gained 4.76% to trade at AU$0.022 apiece at the time of writing on 21 May 2024.