BPH Energy (ASX: BPH) managing director David Breeze joins Small Caps to discuss the continuing delays impacting the proposed testing of the PEP 11 oil and gas exploration licence off the coast of New South Wales.

At a time when the Federal government and east coast gas users are crying out for more supplies, BPH and its investee company Advent Energy keep on running into roadblocks in their plans to drill a well on a large gas target in PEP 11.

The recent NSW government move to bring in a Bill to potentially ban oil and gas activities in the waters off its coastline is the latest frustration for those looking to find gas reserves that can help overcome energy issues that have been forecast to potentially lead to major blackouts in New South Wales and Victoria.

A recent report by the Australian Energy Market Operator (AEMO) found Victorian gas production capacity has decreased, which means there will be an increasing amount of winter gas supply required from Queensland.

AEMO’s recent Victorian Gas Planning Report update indicated this will continue, with the planned closure of Longford’s gas plant 1 starting in July 2024 and Gas Plant 3 later in the decade.

To try and overcome the NSW and Victorian government's anti-gas stance, the Federal government has continually had to rely on Queensland’s LNG producers to carry the load.

A commercial discovery in PEP 11 could potentially be a game-changer for the east coast.

Articles:
https://smallcaps.com.au/bph-energy-advent-preparations-seablue-1-drilling-pep-11/
https://smallcaps.com.au/energyquest-address-east-coast-gas-shortfall-energy-crisis-looms/

For more information on BPH Energy:
https://smallcaps.com.au/stocks/asx-bph/

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