BPH Energy Limited  Placement

BPH Energy Limited Placement

Perth, Australia (ABN Newswire) - BPH Energy Limited (ASX:BPH) is pleased to announce that it has received binding commitments to raise $1 million (before costs) ("Placement"). The Placement will comprise the issue of 50,000,000 new fully paid ordinary shares ("Placement Shares") in the Company at an issue price of $0.02 per share.

Placement participants will receive one (1) free Attaching Option (BPHOB) for every two (2) Placement Shares subscribed for under the Placement, exercisable at $0.03 each with an expiry date of 30 September 2024 ("Attaching Options").

Oakley Capital Partners Pty Limited ("Oakley Capital") and 62 Capital Limited ("62 Capital" acted as Joint Lead Managers for the Placement. Oakley Capital and 62 Capital will be paid a cash fee of 5% on funds raised under the Placement and 12,000,000 BHPOB Broker Options ("Broker Options") exercisable at $0.03 each with an expiry date of 30 September 2024 pro-rata to their participation in the Placement.

The Placement (including the free Attaching Options and Broker Options) will be undertaken pursuant to the Company's existing placement capacity under ASX Listing Rule 7.1 and ASX Listing Rule 7.1A.

Commenting on the capital raising, Executive Director Mr David Breeze said:

"We were pleased with the strong support in the Placement and will see the introduction of several new sophisticated investors, including high net worth, family office and resource funds to our register.

The funding allows BPH to accelerate the exploration programs to unlock the potential on our gas projects especially with the current gas supply crisis as well as assist the next phase of associate Cortical Dynamic Limited's expansion.

USE OF FUNDS

The proceeds raised under the Placement provide BPH with a strong cash position to fund its hydrocarbon projects and to assist in the continued development of Cortical Dynamics.

The intended use of funds will be for:

- $0.75 million - Funding for exploration and development of oil and gas investments

- $0.1 million - For working capital including costs of the offer

- $0.15 million - Funding for Cortical Dynamics

PLACEMENT DETAILS

The Placement offer price of $0.02 per share represents a 16.7% discount to BPH's closing price of $0.024 per share on Thursday, 9 May 2024, and a 16.7 % discount to the 10-day VWAP of $0.024 per share.

Settlement of the Placement is expected to be completed on or around 15 May 2024.

The Placement has been conducted pursuant to the Company's existing Placement capacity under ASX Listing Rule 7.1 and ASX Listing Rule 7.1A. A total of 5,200,000 Placement Shares, 25,000,000 Attaching Options, and 12,000,000 Broker Options will be issued under ASX Listing Rule 7.1. A total of 44,800,000 Placement Shares will be issued under ASX Listing Rule 7.1A.

Placement Shares will rank equally with existing fully paid ordinary shares.



About BPH Energy Limited:  

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).



Source:
BPH Energy Limited



Contact:
David Breeze
admin@bphenergy.com.au
www.bphenergy.com.au
T: +61 8 9328 8366

News Provided by ABN Newswire via QuoteMedia

BPH:AU
BPH Energy

BPH Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
BPH Energy (ASX:BPH)

BPH Energy


Keep reading...Show less

Investing in a Solution to Australia's Fossil Fuel Crisis

Quarterly Activities/Appendix 4C Cash Flow Report

Quarterly Activities/Appendix 4C Cash Flow Report

BPH Energy (BPH:AU) has announced Quarterly Activities/Appendix 4C Cash Flow Report

Download the PDF here.

BPH Energy Limited  PEP11 Offshore Petroleum Joint Venture Update

BPH Energy Limited PEP11 Offshore Petroleum Joint Venture Update

Perth, Australia (ABN Newswire) - On 20 January 2025, BPH Energy Limited (ASX:BPH) and Bounty Oil & Gas NL (ASX:BUY) as the PEP 11 Joint Venture announced that they had been given notice by the National Offshore Petroleum Titles Administrator (NOPTA) that the Joint Authority had refused the Joint Venture Applications made on 23 January 2020 (First Application) and 17 March 2021 (Second Application) (the Decision).

On 12 February 2025 BPH advised that investee Advent Energy Limited's (BPH 36.1% direct interest) 100% subsidiary Asset Energy Pty Ltd had applied to the Federal Court for an Originating Application for judicial review pursuant to s 5 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and s 39B of the Judiciary Act 1903 (Cth) to review a Decision of the Commonwealth-New South Wales Offshore Petroleum Joint Authority, constituted under section 56 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth).

The Originating Application seeks:

1. An order quashing or setting aside the Decision;

2. A declaration that the Decision is void and of no effect; and

3. An order remitting the First Application and Second Application to the Joint Authority for reconsideration according to law.

The Federal Court of Australia made orders today by consent including the following:

- By Wednesday 30 April 2025, the first respondent must file and serve one copy of a bundle of documents that was before the Hon Ed Husic MP as the Responsible Commonwealth Minister of the Commonwealth-New South Wales Offshore Petroleum Joint Authority in making the decision that is the subject of this application, subject to any claim to privilege.

- Other than the bundle of material, all evidence relied upon by the parties must be presented by way of affidavit.

- By Wednesday 21 May 2025, the applicant must file and serve any further affidavits upon which it intends to rely at the hearing of the matter.

- By 25 June 2025, the first respondent must file and serve any affidavits upon which it intends to rely at the hearing of the matter.

- By 16 July 2025, the applicant must file and serve any affidavits upon which it intends to rely at the hearing of the matter by way of reply.

- The application be listed for a 2-day hearing at 10.15 am AWST on 16 September 2025 and 17 September 2025.

- The applicant must file and serve an outline of submissions in chief and a list of authorities by 4.00 pm AWST not less than 42 days before the hearing.

- The first respondent must file and serve an outline of submissions in response and a list of authorities by 4.00 pm AWST not less than 14 days before the hearing.

- The applicant must file and serve an outline of submissions in reply and a list of authorities by 4.00 pm AWST not less than 7 days before the hearing.

- The first case management hearing listed for 10.00 am AWST on 19 March 2025 is adjourned to 9.30 am AWST on 23 July 2025.

- Liberty to apply on 3 days' notice to the other party.

- Pursuant to subsection 15(1)(a) of the Administrative Decisions (Judicial Review) Act 1977 (Cth), the operation of the decision of the Commonwealth-New South Wales Offshore Petroleum Joint Authority comprised of the first respondent and the second respondent made on 16 January 2025 is suspended with effect from 16 January 2025, until further order of this Court.

Asset Energy Pty Ltd is a 100% owned subsidiary of Advent Energy Ltd and lodged the Originating Application as Operator for and on behalf of the PEP11 Joint Venture Partners, Bounty Oil and Gas NL (ASX:BUY) and Asset Energy Pty Ltd.



About BPH Energy Limited:  

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).



Source:
BPH Energy Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
PEP11 Update Federal Court Judicial Review

PEP11 Update Federal Court Judicial Review

BPH Energy (BPH:AU) has announced PEP11 Update Federal Court Judicial Review

Download the PDF here.

BPH Energy Limited  PEP11 Update Federal Court Judicial Review

BPH Energy Limited PEP11 Update Federal Court Judicial Review

Perth, Australia (ABN Newswire) - BPH Energy Limited (ASX:BPH) advises that investee Advent Energy Limited's (BPH 36.1% direct interest) 100% subsidiary Asset Energy Pty Ltd has applied to the Federal Court for an Originating Application for judicial review pursuant to s 5 of the Administrative Decisions (Judicial Review) Act 1977 (Cth) and s 39B of the Judiciary Act 1903 (Cth) to review a Decision of the Commonwealth-New South Wales Offshore Petroleum Joint Authority, constituted under section 56 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth). By the Decision, the Joint Authority refused the Joint Venture Applications made on 23 January 2020 and 17 March 2021 to vary and suspend the conditions of the PEP-11 Permit, pursuant to section 264(2) of the Act, and to extend the term of the PEP 11 Permit, pursuant to section 265 of the Act.

The Originating Application seeks:

1. An order quashing or setting aside the Decision;

2. A declaration that the Decision is void and of no effect; and

3. An order remitting the First Application and Second Application to the Joint Authority for reconsideration according to law.

Asset Energy Pty Ltd is a 100 % owned subsidiary of Advent Energy Ltd and has lodged the appeal as Operator for and on behalf of the PEP11 Joint Venture Partners, Bounty Oil and Gas NL (ASX:BUY) and Asset Energy Pty Ltd.



About BPH Energy Limited:  

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).



Source:
BPH Energy Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Oil pumpjack with financial graph overlay, blue and orange lights.

Oil and Gas Price Update: Q1 2025 in Review

The oil sector faced volatility throughout the first quarter of 2025.

Concerns around weak demand, increasing supply and trade tensions came to head in early April, pushing oil prices to four year lows and eroding the support Brent and West Texas Intermediate (WTI) had above the US$65 per barrel level.

Starting the year at US$75 (Brent) and US$72 (WTI), the oil benchmarks rallied in mid-January, reaching five month highs of US$81.86 and US$78.90, respectively. Tariff threats and trade tensions between the US and China, along with soft demand in Asia and Europe, dampened the global economic outlook for 2025 and added headwinds for oil prices.

This pressure caused oil prices to slip to Q1 lows of US$69.12 (Brent) and US$66.06 (WTI) in early March.

Keep reading...Show less
Jupiter Energy (ASX:JPR)

Jupiter Energy


Keep reading...Show less
Source Rock Royalties (TSXV:SRR)

Source Rock Royalties Declares Monthly Dividend

Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces that its board of directors has declared a monthly dividend of $0.0065 per common share, payable in cash on May 15, 2025 to shareholders of record on April 30, 2025.

This dividend is designated as an "eligible dividend" for Canadian income tax purposes.

Keep reading...Show less
BPH Energy

BPH Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×