25 10 2018 Companies Announcement Office ASX Limited Exchange...

25 10 2018

Companies Announcement Office ASX Limited
Exchange Centre
Level 4, 20 Bridge Street

Sydney, NSW 2000 Dear Sir/Madam

VALUATION UNDER LR 7.1A.3
Valuation Report for BPH Energy Limited (ASX: BPH) for the purposes of Listing Rule 7.1A.3. Overview and background

BPH Energy Ltd (ASX: BPH) has agreed to issue 75,121,887 fully paid ordinary shares at a deemed issue price of 0.001 cents per share to Protax Nominees Pty Ltd (A.C.N.018812567) in consideration for 4,173,439 fully paid ordinary shares in MEC Resources Ltd (ASX: MMR) under Listing Rule 7.1A.
A further 24,878,113 BPH shares will be issued to Protax Nominees Pty Ltd (A.C.N.018812567) under Listing Rule 7.1 in consideration for 1,382,117 shares in MEC Resources Ltd.

A total of 100,000,000 BPH shares will be issued in consideration for 5,555,556 shares in MMR. At a deemed issue price of 0.001 cents per BPH share this equates to a deemed value of 0.018 per MMR share.

	Column 1
0	WHAT IS THE TRUE MARKET VALUE OF MMR

Hot Trading Hot Capital