Ann: Investee Advent Energy PEP 11 Permit Extension not Granted, page-55

It’s not over yet with energy business of BPH. Breeze and his main backers are smart players with many industry connections in the energy business and have a war chest of funds to potentially acquire a Plan B and maybe a smaller plan C . We will see on Monday if the Calvary has arrived to save what’s left this energy play . I think it’s a farm in not based in Australia but a nearby jurisdiction that is probably well advanced than Pep 11 and the lesson learnt here is that Breeze has swung away from silly politics of the current green energy obsessed Australia.

Am I concerned or anxious about this poor decision ? yes to certain extent having a large shareholding like yourself , but I have been mentally train over the last 10 months that this may not happen and hopefully a decent and advanced Plan B has been put in place ready to be activated . Yes the share price will be hit again with the untrained throwing in the towel on Monday morning , but there will be quick window of wealth transfer to the smart money that are patient and know Breeze is a clever strategist and will give him another go shortly. Yes there will be pain for many as their dreams of a jackpot win have been dashed , however if you are willing to be patient there are positives in the horizon such as cortical dynamics .

In regards to Pep-11 for a decision of approval , it’s naturally not looking good and chances of Pitt and NOPTA coming to the rescue to over turn ScoMo’s decision are slim . In a way drilling pep 11 was a huge $20m plus gamble and we have may have dodged a bullet as the chances of hitting a economic gas resource are 1 in 10.
So what next for Pep-11 and BPH ? Definitely a major compensation claim of hundreds of millions will be lodged soon and the case is strong with the decade of investment of $40m being a starting point and the fact that market cap hit $220m when it reached in the early $.30 mark on that crazy day in early this year . However this will take time and will play out for a while as you just don’t pull the plug on a exploration lease and pay out nothing . The Australian tax payer will cop a major bill in 12-18 months time and the chances of success will be good .