BPH Energy

PEP11 Update

BPH Energy Limited (BPH) (ASX: BPH) and Bounty Oil & Gas NL (Bounty) (ASX: BUY) for the PEP11 Joint Venture announce that today, 5 August 2024, Asset Energy Pty Ltd (Asset) as operator for and on behalf of the joint venture partners, filed an Originating Application for Judicial Review in the Federal Court seeking the following:


1. A declaration that the Commonwealth-New South Wales Offshore Petroleum Joint Authority has breached an implied duty by failing to make a decision under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth) with respect to two pending applications relating to Petroleum Exploration Permit NSW–11 (PEP11 Permit); and

2. An order that the Joint Authority be compelled to determine the applications within 45 days.

Background

On 24 December 2019, Asset applied for a variation and suspension of the conditions of the PEP11 Permit pursuant to s 264 of the Act and an extension of the term of the PEP11 Permit pursuant to s 265 of the Act (the First Application). The variation, suspension and extension were sought to, among other things, enable Asset (i) further time lawfully to drill an exploration well; and (ii) thereafter conduct post well studies rather than conduct a three-dimensional seismic survey. The National Offshore Petroleum Titles Administrator (NOPTA), on behalf of the Joint Authority, accepted the First Application on 23 January 2020.

On 30 January 2021, Asset applied for a variation and suspension of the conditions of the PEP11 Permit pursuant to s 264 of the Act and an extension of the term of the PEP11 Permit pursuant to s 265 of the Act (the Second Application). The variation, suspension and extension were sought to, among other things, enable Asset further time lawfully to drill an exploration well and sought to invoke the decision-making principles set out in the COVID-19 Fact Sheet: Work-Bid Exploration Permits (dated April 2020). NOPTA, on behalf of the Joint Authority, accepted the Second Application on 4 February 2021.

On or about 26 March 2022, the then purported Joint Authority formally determined to refuse the First Application (Purported First Application Decision). On 14 February 2023, the Purported First Application Decision was set aside by the Federal Court of Australia on the ground of apprehended bias. The decision of the Federal Court was the subject of an announcement made on 14 February 2023 by BPH.

Between March 2023 and October 2023, Asset provided further information to NOPTA. On 17 October 2023, NOPTA made a recommendation to the Joint Authority with respect to both Applications. To date, neither the First Application nor Second Application have been determined by the Joint Authority according to law. It has been 1,656 days (inclusive) since the First Application was accepted by NOPTA. It has been 1,278 days (inclusive) since the Second Application was accepted by NOPTA.

Asset alleges that the failure by the Joint Authority to make a decision with respect to the First Application and the Second Application constitutes a breach of its duty to consider the applications within a reasonable time.

David Breeze (Director) authorised the release of this announcement to the market.


Click here for the full ASX Release

This article includes content from BPH Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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BPH Energy (ASX:BPH)

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Investing in a Solution to Australia's Fossil Fuel Crisis

BPH Energy Limited  Annual Financial Report

BPH Energy Limited Annual Financial Report

Perth, Australia (ABN Newswire) - BPH Energy Limited (ASX:BPH) uses funds raised to provide financial support to, and make direct investments in, a number of direct investees, associates, and related companies including Advent Energy Limited, Cortical Dynamics Limited, MEC Resources Limited, and Clean Hydrogen Technologies Corporation. BPH's capital raising activities during the year are set out page 10 of the Directors' Report.

*To view the full Annual Report, please visit:
https://abnnewswire.net/lnk/7P452QYO



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

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BPH Energy Limited  Quarterly Activities Report

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Perth, Australia (ABN Newswire) - Significant activities by the BPH Energy Limited (ASX:BPH) investees during the June 2025 quarter were as follows:

Advent Energy Limited ("Advent") (BPH 35.8% direct interest) PEP-11 Permit

Advent Energy Limited's100% subsidiary Asset Energy Pty Ltd ("Asset") is a participant in the PEP11 Joint Venture with partner Bounty Oil and Gas NL (ASX: BUY). PEP-11 interests are:

Advent Energy 85 % / Bounty Oil and Gas 15%

On 17 January 2025 the PEP-11 Joint Venture was given notice by NOPTA that the Joint Authority has refused the Joint Venture Applications made on 23 January 2020 and 17 March 2021 and that the PEP-11 permit would continue in force for a period of 2 months from 17 January 2025 (the "Decision").

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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.

On 17 March 2025 the Federal Court made orders by consent further set out in the Company's March 2025 Quarterly Report .

The parties have complied with all programing orders and the matter is now listed for hearing on the 16th and 17th September 2025.

There were no further developments during the June 2025 quarter.

PEP-11 continues in force and the Joint Venture is in compliance with the contractual terms of PEP11 with respect to such matters as reporting, payment of rents and the various provisions of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth).

Cortical Dynamics Limited (Cortical) (BPH 16.4% direct interest)

Technical completion of Cortical's next-generation AI enhanced brain and pain monitoring BARM 2.0 is expected over the next months.

BARM 2.0 is the only solution that unifies hypnotic depth and pain response monitoring, combining EEG with AI in one system, giving clinicians real-time control over anesthesia, and hospitals a smarter, more scalable way to achieve better patient outcomes both during and after surgery.

Post technical completion BARM 2.0 clinical trials are scheduled in the USA and Netherland to be followed by submissions to regulatory authorities worldwide as soon as possible.

Cortical Dynamics was invited to showcase BARM 2.0 at the Australia Regulatory Device Summit 2025, that took place on the 17-18 July at ICC. In attendance were key stakeholders including the US FDA , Therapeutic Goods Administration (TGA) and international regulators from ANVISA (Brazil), HSA (Singapore), and PMDA (Japan). This was a unique chance for Cortical to connect directly with the regulatory community and major global players in medical technology.

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MTAA is the peak association representing companies in the medical technology industry. MTAA aims to ensure the benefits of modern, innovative and reliable medical technology are delivered effectively to provide better health outcomes to the Australian community.

Work continues on the development of CORDYAN(TM) which is Cortical Dynamic's new AI focussed predictive App initiative. Utilising proprietary state of the art AI and deep learning expertise Cortical Dynamics is developing game changing medical Apps that can be used in association with BARM 2.0 or standalone and /or be integrated into leading OEM healthcare systems and EMR (electronic medical records).

CORDYAN(TM)'s development has been facilitated by matched grants from MTPConnect, Australia's premier MedTech governmental organisation and ARM-hub a federal government initiative to accelerate AI related technologies in areas of strategic importance.

Clean Hydrogen Technologies (CHT) (BPH 16.2% direct interest)

As of mid-2024 CHT has developed its engineering and catalyst capabilities to a stage where it has proven consistently in its pilot plant in Nashik, India to produce its 2 products; turquoise hydrogen and a carbon composite made from majority CNT (carbon nanotubes) and CNF (carbon nanofibres), where its core process has not CO2 emissions and its feedstock is the hydrocarbons from natural gas . The next stage is to build production facilities in the USA and India, both being highly industrial markets with demand for CHT's products.

As such since mid-2024 CHT has been designing its production facility for India initially which will produce at the end of its Stage 1 build will produce 820 tonnes of hydrogen and 2,462 tonnes of carbon composite. CHT plans to sell it products to the many industrial users in the State of Maharashtra India, home of its planned production site, and likely Louisiana, USA, with several site options identified.

Before finalising production needs and CHT has been going through the ASME (required for operation in USA) and IS2825 (required for operation in India) review of its engineering designs where this process is almost complete.

CHT is now looking to source the funding required to build its plants in the USA and India where within 3-4 months of minimal funding of US$2.5m it will start producing income, initially in India and then the USA, its primary market.

*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/0072553O



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

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