BPH Energy Limited has raised funds to support its significant investment in Advent Energy Ltd, an unlisted oil and gas exploration company, while facing legal challenges over the PEP-11 permit. The company’s principal ESG development involves the exploration of natural gas in the Offshore Sydney Basin, a significant offshore exploration area with large scale structuring and potentially multi-Trillion cubic feet (Tcf) gas charged Permo-Triassic reservoirs.
Material actions and disclosures
Advent Energy Ltd, BPH’s major investee, holds 85% of Petroleum Exploration Permit PEP-11, an exploration permit prospective for natural gas located in the Offshore Sydney Basin. The total P50 Prospective Resource calculated for the PEP-11 prospect inventory is 5.7 Tcf, with a net 4.9 Tcf to Advent (85%WI). The two largest prospects in the inventory are Fish and Baleen.
Advent has demonstrated considerable gas generation and migration within PEP-11, with the mapped prospects and leads highly prospective for the discovery of gas. The company aims to play a direct role in achieving the Net Zero by 2050 target, especially in New South Wales, by finding gas closest to Australia’s biggest domestic energy market, which can be used to provide reliable back-up for increased uptake of renewable energy.
Forward commitments
Advent has appealed the judgment of the Honourable Justice Jackson delivered on 17 June 2026 to the Full Court of the Federal Court of Australia. The company has engaged Senior Counsel for this purpose. The timing of the hearing and determination of the appeal is a matter for the Full Court.
Separately, in March 2025, Advent made an application to NOPTA for the renewal of the PEP11 permit over an area that is 50% of the existing PEP11 permit area. That application remains to be considered by NOPTA.
BPH Energy Limited’s activities and investments are subject to significant regulatory and environmental risks, including the potential for new or expanded regulations associated with transitioning to a lower carbon economy.