BPH Energy Ltd (ASX:BPH) Provides PEP 11 Update
PEP 11 Update
BPH Energy Limited (ASX: BPH) has been informed that the National Offshore Petroleum Titles Administrator (NOPTA) has refused the Joint Venture Applications submitted on 23 January 2020 and 17 March 2021. This decision was communicated to the Joint Venture with Bounty Oil & Gas NL on 17 January 2025.
The PEP 11 permit will remain in effect for up to two months post notification, allowing the Joint Venture time to evaluate their options. The Joint Venture possesses the legal right to seek a review of the refusals under the Offshore Petroleum and Greenhouse Gas Storage Act 2006. BPH Energy is currently securing legal advice regarding this review process.
David Breeze, Director of BPH Energy, has authorised this announcement for release to the market.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.