BPH Energy shares latest update on PEP 11 gas exploration licence

October 28, 2022 10:57 AM AEDT | By Ankit Sethi

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BPH Energy shares latest update on PEP 11 gas exploration licence — Image source: BPH Energy

The amended application

The now amended originating application has been filed with the below-mentioned claims.

That the decision made by the former Prime Minister with regard to the renewal of the exploration permit for PEP 11 disregarded the requirements of procedural fairness in that it was “infected by actual bias”.

That additionally or in the alternative, there was “reasonable apprehension” of alleged bias, which was in the form of “predetermination”, in a way that procedural fairness was denied to the applicant.

That additionally or in the alternative, the denial of procedural fairness emanated from the fact that the former Prime Minister failed to take into consideration the submissions made by the applicant on 22 January 2022.

That additionally or in the alternative, the denial of procedural fairness emanated from the lack of opportunity to the applicant to counter the issues highlighted by NOPTA with respect to the financial capacity of the applicant.

That additionally or in the alternative, the decision whereby the renewal was rejected is void and shall have no effect on the ground that the former Prime Minister lacked valid and proper appointment as the responsible Commonwealth Minister of the Joint Authority to administer the department.

Recent funding update

BPH recently received binding commitments to raise AU$1.2 million via a placement. This was a significant boost to the company’s hydrogen and the PEP 11 gas and carbon storage project. BPH intends to use the amount in the following manner

AU$0.65 million will go into investments in clean hydrogen technology
AU$0.35 million will be used to fund the development of oil and gas projects
AU$0.1 million will be used as working capital, including costs of the placement

Click here to read more on the funding update.

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