Wooooo Hooooo Go BPH :)$$$$$$, page-15796

Hi ITGUY,

It's a slightly more complex question to answer than it sounds.

The background to the current position is important. Firstly, we know that in March 2020, NOPTA provided the JA with a recommendation to approve the application. Under a fair assessment process, this document should carry the most weight. By February 2021, Keith Pitt was ready to approve the application, despite being lobbied by various people to decline it. Keith explained that he thought the Government would get sued if he declined it without a reasonable basis for doing so. By April 2021, Scott Morrison had secretly usurped Keith Pitt and used his newly acquired power to decline the application against Keith Pitt's wishes. BPH via Asset Energy took the Government to court and the Government conceded the case resulting in Scott Morrison's decision being quashed. Following the court case, new Resources Minister Madeleine King vowed to follow the law in making her decision. From that, I believe it is fair to assume she will grant approval. JMO.

So, in the unlikely event that she elects to decline, her basis would be scrutinised, and Advent would most likely contest this in court again, something the Government has avowed they wish to avoid.

If that occurred, the price will depend on BPHs other assets, where the BARM product is at, where Clean Carbon/Turquoise Hydrogen is at. I personally have the BARM product being worth around 5c/share so that should form the new base. However, the number of people who hold just for PEP11 probably exceed the number holding for the diversified portfolio, so a fall below 5c wouldn't surprise. DYOR

Hope that helps.