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BPH Energy Looking for Continued Progress in PEP 11 Permit Court Case

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By Colin Hay - 
BPH Energy ASX BPH Progress PEP 11 Permit Court Case
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BPH Energy (ASX: BPH) is looking for more favourable news involving the PEP 11 permit off the NSW coast in an upcoming Federal Court hearing in the middle of September.

BPH has a stake in the permit through its 35.8% direct interest in unlisted Advent Energy, which owns PEP 11 permit operator Asset Energy.

A positive decision would be a major breakthrough for BPH, as PEP 11 has the potential to alleviate the critical energy shortages looming for Australia’s east coast.

Prolonged Court Case

Earlier this year, offshore authority NOPTA refused the PEP 11 joint venture’s previous applications to progress activities in the licence.

Asset and PEP 11 joint venture partner Bounty Energy subsequently lodged an order to have the decision quashed or set aside.

With all parties having now complied with all program orders. the matter is set to be listed for hearing next month.

In the meantime, the JV has investigated the availability to contract a mobile offshore drilling unit to drill the proposed Seablue-1 well on the Baleen prospect in the PEP 11 permit, considered one of the largest undeveloped oil and gas prospects on the east coast.

Key BARM 2.0 Completion

Elsewhere, unlisted biotech Cortical Dynamics – in which BPH has a 16.4% direct interest – is set to achieve technical completion of its BARM 2.0 next-generation AI-enhanced brain and pain monitoring system

BARM 2.0 unifies hypnotic depth and pain response monitoring, combining EEG with AI to provide clinicians with real-time control over anaesthesia, delivering improved patient outcomes both during and after surgery.

Cortical has scheduled BARM 2.0 clinical trials in the USA and Netherlands, along with submissions to global regulatory authorities post the technical completion, and will be presenting the technology to government officials and industry leaders at the upcoming MedTech on the Hill conference at Parliament House in Canberra.

Cortical also continues to develop its predictive AI app initiative CORDYAN, facilitated by matched grants from governmental organisation MTPConnect and ARM-hub, a federal initiative to accelerate AI-related technologies in areas of strategic importance.