BPH Energy (ASX: BPH) has received strong backing for its petroleum and neurotechnology investments, announcing it had received binding commitments from sophisticated investors to raise approximately $1.2 million under a share placement offer.
The new capital will support BPH's investment in oil and gas explorer Advent Energy and Cortical Dynamics’ AI-enhanced brain and pain monitoring system.
BPH is issuing 134.2 million new shares at a price of $0.009, with one free attaching option for each placement share, exercisable at $0.03 and expiring on the same date as the options issued late last year.
“The funding allows BPH to accelerate the exploration programs to unlock the potential on our gas projects especially with the current gas supply crisis," executive director David Breeze said.
PEP-11 Court Hearing
Approximately $0.85m of the new funding will help support an upcoming Federal Court hearing, where Advent Energy—in which BPH has a 35.8% direct interest—is seeking to overturn a federal government rejection of the PEP-11 exploration permit extension.
Located off the coast of NSW, PEP-11 is considered to have significant gas potential at a time when the east coast of Australia is facing significant energy shortage concerns.
After a recent adjournment on technical grounds, the hearing is now scheduled to be held between February 20 and 23, 2026.
Advent also operates Retention Licence 1 and the Weaber gas field in the onshore Bonaparte Basin on Australia’s west coast.
Cortical Dynamics Funding
BPH will direct a further $0.25m of the proceeds toward completion of new developments related to Cortical Dynamics’ BARM 2.0 solution.
BPH has a 16.4% direct interest in the neurotechnology start-up and its unique single-system melding of hypnotic depth and pain response monitoring with electroencephalogram technology.
BARM 2.0 will support clinicians with real-time control over anaesthesia, and help hospitals achieve improved patient outcomes during and after surgery.
Cortical is also developing a range of medical apps to be used either in association with BARM 2.0 or as standalones.
