BPH Energy’s subsidiary seeks judicial review of PEP-11 oil and gas permit decision

BPH Energy (ASX: BPH) has reported that Asset Energy – a fully-owned subsidiary of its investee company Advent Energy – has applied to the Federal Court for a judicial review of decisions related to the PEP-11 oil and gas permit off the NSW coast.

Asset has asked for a review of the decisions made by the Commonwealth–New South Wales Offshore Petroleum Joint Authority on 23 January 2020 and 17 March 2021 to vary and suspend the conditions of the PEP-11 permit.

BPH holds a 36.1% direct interest in Advent Energy.

Orders sought

Asset is seeking an order quashing or setting aside the decision, a declaration that the decision is void and of no effect and an order remitting the first and second applications to the Joint Authority for reconsideration according to law.

As operator, Asset has lodged the appeal on its own behalf and that of PEP-11 joint venture (JV) partner Bounty Oil & Gas (ASX: BUY).

The JV reported in late January that it would seek legal advice after an announcement by federal minister for industry and science Ed Husic that the joint authority had refused the applications for the offshore NSW licence.

Statutory right

Bounty and BPH Energy each came out of a trading halt in late January with an announcement that the JV was obtaining legal advice on a statutory right to seek a review of the decisions under the Offshore Petroleum and Greenhouse Gas Storage Act 2006.

BPH executive director David Breeze said the PEP-11 permit would continue in force for a period of two months from 17 January 2025, the date of the National Offshore Petroleum Titles Administrator’s decision to refuse applications the JV made on 23 January 2020 and 17 March 2021.

Asset initially applied for federal determination in late December 2019, seeking a variation and suspension of the conditions, as well as an extension of the term of the PEP-11 permit.