BPH Energy Limited (ASX:BPH) released its quarterly activities report for the period ended 30 September 2020.
On 23 July 2020, the Company had announced that it had completed a placement and that it intended to undertake a non-renounceable rights issue. The placement comprised of 29,987,500 fully paid ordinary shares at an issue price of $0.015 per share. In August 2020, BPH completed the 2 for 5 non-renounceable rights issue at $0.015 per share and in September, 300,000 options were exercised at an exercise price of $0.02 per share.
The declaration also featured that Investee Advent Energy Ltd has submitted an application to enable the drilling of the Baleen drill target in the PEP11 permit offshore NSW to the National Offshore Petroleum Titles Administrator. The application also includes the extension of the permit for up to two years and for the removal of the requirement for a 500 sq km 3D seismic programme.
Meanwhile, the share price of BPH hovered around $0.042 per share with a market capitalisation of 24.69 million at 2:06 PM AEDT.