Latest Pep11 News

MEC Resources ended the September quarter with $1.275 million in cash and reported an estimated 11.9 quarters of funding at its current operating cash burn. But its key Advent Energy investment faces a live Federal Court appeal over PEP11, while an onshore subsidiary holding the Weaber Gas Field remains in voluntary administration.

BPH Energy’s latest quarter puts its portfolio risks in sharp relief: Advent is appealing the PEP11 ruling while another subsidiary remains in voluntary administration. BPH ended September with $1.127 million in cash, but deployed $972,000 in loans to investees during the quarter.

Advent Energy, via its subsidiary Asset Energy, has formally appealed the Federal Court ruling on the PEP11 gas exploration permit, a move closely watched by BPH Energy, which holds a 35.81% stake in Advent.

Advent Energy, in which BPH Energy holds a 35.81% stake, will challenge a Federal Court judgment on the PEP11 gas exploration permit, prolonging uncertainty over a key NSW offshore asset.

Advent Energy, in which MEC Resources holds a 37.95% stake, will challenge a Federal Court judgment on the PEP11 offshore gas exploration permit, with its subsidiary Asset Energy leading the appeal.

BPH Energy has responded to an ASX price query following unusual trading activity, confirming no undisclosed information exists and pointing to ongoing legal matters involving its investee Advent Energy as context.