BPH Energy Ltd Says Advent Energy to Appeal PEP11 Federal Court Judgment
Advent Energy to appeal PEP11 Federal Court judgment
BPH Energy Limited (ASX: BPH) has advised the market that Advent Energy Limited will appeal the 17 June 2026 Federal Court judgment concerning Petroleum Exploration Permit PEP11 to the Full Court of the Federal Court of Australia. The appeal will be conducted through Advent’s wholly owned subsidiary, Asset Energy Pty Ltd, the operator of the PEP11 Joint Venture.
BPH holds an indirect interest in the permit through its 35.81% investee, Advent Energy. The Company is an investor in Advent and is not a party to the proceeding. The appeal relates to the judgment delivered by the Honourable Justice Jackson in proceeding WAD36/2025.
The Federal Court dismissal of the PEP11 judicial review on 17 June 2026 left the Joint Authority’s January 2025 refusal of the extension, variation, and suspension applications fully intact, while a separate NOPTA renewal application covering 50% of the permit area remains pending as a parallel pathway.
Following its original announcement of 19 June 2026, BPH confirmed in this update dated 3 July 2026 that it will keep the market informed of material developments regarding the appeal in accordance with its continuous disclosure obligations under ASX Listing Rule 3.1.
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What the appeal means for BPH investors
BPH’s exposure to PEP11 flows through a chain of interests. The Company holds a 35.81% investee interest in Advent Energy, which in turn wholly owns Asset Energy Pty Ltd, the 85% holder and operator of the PEP11 Joint Venture.
The appeal is being run by Advent and Asset Energy as the relevant party to the proceeding, not by BPH directly.
The ownership and interest chain can be summarised as follows:
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BPH Energy: 35.81% investee interest in Advent Energy
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Advent Energy: 100% owner of Asset Energy Pty Ltd
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Asset Energy: 85% holder and operator of the PEP11 Joint Venture
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Bounty Oil & Gas NL: 15% PEP11 interest
Understanding PEP11 and why it matters
PEP11 is an offshore petroleum exploration permit, located offshore the lower Hunter Region in NSW, less than 50 kilometres from the Newcastle metropolitan area.
The PEP11 Joint Venture considers the permit 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.
| Attribute | Detail |
|---|---|
| Location | Offshore lower Hunter Region, NSW |
| Distance from Newcastle metro | Less than 50 km |
| Area | Approximately 4,649 square kilometres |
| Permit holders | Asset Energy (85%), Bounty Oil & Gas NL (15%) |
| Prospectivity | Natural gas; potential contributor to forecast east coast gas supply shortfall |
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What happens next
The appeal will be conducted by Advent and Asset Energy as the relevant party to the proceeding. BPH has stated it will update the market on material developments in relation to the appeal, and any related steps, in accordance with its continuous disclosure obligations under ASX Listing Rule 3.1.
For readers wanting to trace the full procedural history behind the current appeal, our full explainer on the February 2026 Federal Court hearing covers Justice Jackson’s reservation of the decision and what a favourable ruling would have meant for offshore gas exploration access in the Sydney Basin.
Release Authorisation
David Breeze (Director) authorised the release of this announcement to the market.
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