ASX is not satisfied with it's answers,
That seemed pretty smart allec IMO....
"as in ASX’s opinion, BPH is unable or unwilling to comply with Listing Rules 5.25 and 5.28. The securities will remain suspended pending BPH complying with Listing Rules 5.25 and 5.28 to ASX’s satisfaction."
The ASX has stated:
6. Noting the statement that,
“PEP-11 is reported to contain prospective resources up to 5.5 trillion cubic feet of gas,
potentially similar in size to the Bass Strait, and enough to supply the East Coast with approx. 20 years of gas”
(‘Resource Statement’
, constitutes the public reporting of a prospective resources for the purposes of Listing Rules 5.25, 5.28, 5.35 and 5.36.
In the absence of BPH releasing an announcement in compliance with Listing Rules 5.25, 5.28, 5.35 and 5.36 please confirm that BPH has released an announcement which:
(
a) retracts any reference to the Resource Statement as being contrary to the Listing Rules; (b) states that BPH does not have any reasonable basis for disclosing that Resource Statement; and
(c) includes a statement to the effect that investors should not rely on the Resource Statement for their investment decision.And:
7. Noting the statement that,
“BPH believe the project could have been supplying gas to the national market by 2024 at a cost of ~$8/Gj”
(‘Cost Estimate’
,
constitutes forecast financial information derived from an estimate of prospective resources for the purposes of Listing Rule 5.28.6,
please confirm that BPH has released an announcement which: 3/5
(
a) retracts any reference to the Cost Estimate as being contrary to the Listing Rules;
(b) states that BPH does not have any reasonable basis for stating that Cost Estimate; and
(c) includes a statement to the effect that investors should not rely on the Cost Estimate for their investment decision.BPH could be a long time if ever....
