- Considering appeal on court judgement re exploration permit
- Permit located off the NSW coast
- Permit is considered highly prospective for natural gas
- NSW desperate for new energy sources
BPH Energy (ASX:BPH) is considering lodging an appeal after the Federal Court of Australia delivered its judgment concerning the controversial offshore NSW oil and gas exploration permit PEP11.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week.On Spotify, Apple, and more.
BPH holds an indirect interest in PEP11 through its 35.8% interest in investee Advent Energy and Advent’s wholly-owned subsidiary Asset Energy – operator of the PEP11 ioint venture.
The large offshore permit has faced opposition from green groups and the NSW government for a number of years and in the latest development justice Jackson has dismissed an application for judicial review brought by Asset Energy and JV partner Bounty Oil & Gas (ASSX:BUY).
Through the court’s decision a Commonwealth–New South Wales Offshore Petroleum Joint Authority refusal of the joint venture’s applications to vary, suspend and extend the PEP11 permit – stands.
Notably, the federal government’s National Offshore Petroleum Titles Administrator (NOPTA) refusal decision on the PEP11 extension and variation applications has not been set aside, and Asset’s applications remain refused.
BPH told shareholders the company is reviewing the federal court judgment with its advisers and, together with the Asset and Bounty will consider all available options including an appeal.
Advent has noted that it intends to engage appropriate senior sounsel for this purpose.
In March 2025, separately and distinct from the federal court proceedings, Advent made an application to NOPTA for renewal of the PEP11 permit which is 50% of the existing PEP11 permit area.
As at the date of today’d announcement that application remains to be considered by NOPTA. Advent has stated it will continue to address the renewal application further with NOPTA.
BPH said in the meantime, the PEP11 permit as it stands will remain in force pending consideration and determination of that renewal application.
PEP11 is located offshore the lower Hunter Region in NSW, covering approximately 4,649 square kilometres less than 50 kilometres from the Newcastle metropolitan area.
The permit is considered to be highly prospective for natural gas and a potentially significant contributor to addressing the forecast east coast gas supply shortfall identified by AEMO, the ACCC and other agencies.
BPH is down 50% to 0.4¢. Mkt cap $10.83M.
Join the discussion: See what HotCopper users are saying about BPH Energy and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
