The BPH Energy Ltd (ASX: BPH) share price is on fire.

The ASX energy share is up another 11% today, putting it up an eye-popping 310% since Monday's closing bell.

So, why are investors sending the BPH Energy share price skywards?

What's piquing ASX investor interest? 

The BPH Energy share price has former prime minister Scott Morrison to thank for its stellar performance.

Well. Sort of.

As you're likely aware, during the COVID-19 pandemic Morrison secretly appointed himself minister for home affairs, treasury, health, finance and resources.

Last week it emerged that in his self-appointed role as Resources Minster, Morrison nixed the approval for BPH Energy's Petroleum Exploration Permit 11 (PEP11) offshore gas exploration project in the Sydney Basin.

Asset Energy (a wholly owned subsidiary of BPH's investee Advent Energy Ltd) holds an 85% stake in the project; Bounty Oil & Gas NL (ASX: BUY) holds the other 15%.

So how is Morrison helping send the BPH Energy share price rocketing?

Here's what the company reported yesterday:

In light of the recent media coverage regarding former Prime Minister Scott Morrison's use of ministerial powers to block the PEP-11 gas exploration licence, the company is currently undertaking a full review of its options, including potential for legal channels, as part of its strategy to protect shareholder value.

Asset Energy had already commenced proceedings in the Federal Court of Australia in June. The company alleges that Morrison "was biased and failed to afford procedural fairness in his decision not to grant an extension of term and a suspension and variation of the minimum work requirements under PEP-11".

BPH Energy noted that Prime Minister Anthony Albanese has sought advice regarding whether Morrison's "appointments and decisions, which includes the PEP-11 decision, were beyond power".

The company also said the PEP-11 project and proposed carbon storage project have "potential national significance".

According to BPH Energy:

It addresses both current gas shortages and the objective of Net Zero Emissions. Advent has committed to ensuring that all the gas produced from the project is available for Australian domestic supply.

BPH Energy share price snapshot

With the recent big gains, the BPH Energy share price is up 160% in 2022. That compares to a year-to-date loss of 9% posted by the All Ordinaries Index (ASX: XAO).

The post Why has the BPH Energy share price exploded 310% in 2 days? appeared first on The Motley Fool Australia.

The BPH Energy Ltd (ASX: BPH) share price is roaring higher during afternoon trade on Friday.

This comes as the biotechnology and mineral exploration company announced an update in regards to its investee company, Cortical Dynamics.

At the time of writing, BPH shares are up 5.08% to 6.2 cents. It's worth noting that its shares reached an intraday high of 6.7 cents before treading lower.

What did BPH announce?

Investors are pushing the BPH share price upwards after digesting the company's latest positive update.

According to its release, BPH advised that Cortical Dynamics has filed a 510(k) submission with the United States Food and Drug Administration (FDA). This is in relation to the company's medical device, the Brain Anaesthesia Response Monitor (BARM).

Touted as the next-generation brain function monitor, BARM is an Australian-first. It has been developed by BPH in partnership with Swinburne University.

BARM works by measuring changes in a patient's brain activity as a medical professional delivers anaesthesia. It allows anaesthetists to calculate the dosage and make adjustments as necessary during surgical procedures.

The monitor also has the potential to indicate how pain-free a patient is while under anaesthesia.

BARM is better than the currently used electroencephalogram (EEG) technology because it is based on science's latest understanding of how the brain produces rhythmic electrical activity.

A 510(k) is a premarket submission that demonstrates that the device is safe and effective for potential consumers. This is considered the fastest route to market. Clearance of the 510(k) would allow Cortical Dynamics to begin marketing a predicate device in the US without clinical trials.

About the BPH share price

Over the past 12 months, BPH shares have lifted by 24%. Year to date, the BPH share price has gained 55%.

Based on today's price, BPH presides a market capitalisation of roughly $41.2 million. There are approximately 665 million shares outstanding.

The post Here's why the BPH Energy (ASX:BPH) share price is surging 5% today appeared first on The Motley Fool Australia.

Shares in BPH Energy Ltd (ASX: BPH) are gaining today, following news the company is tendering for drilling services at the Baleen Prospect. At the time of writing, the BPH share price is $0.9 ­– 2.27% higher than yesterday's closing.

Located off the coast of Newcastle, the Baleen Prospect is a joint venture between BPH's investee company, Advent Energy Ltd, and Bounty Oil & Gas NL (ASX: BUY). The majority of the license to explore the Baleen Prospect is held by Advent at 85%, while 15% is held by Bounty. 

Let's take a closer look at today's news from BPH.

Baleen tender

According to today's announcement, the Baleen-1 well is to be drilled in 125 metres of water – taking around 40 days to reach its total depth.

A tender for the supply of drilling services has been sent to multiple companies with drilling equipment in the area.

The drilling is the first physical step of the prospect's exploration, and is being conducted with two objectives. First, for an expected gas target. Last month, a review of a Geoscience Australia research report found the companies have a high likelihood of striking gas at the Baleen Prospect.

The second objective is for carbon capture storage (CCS). If the well is found suitable for CCS it could offer the potential for carbon sequestration near the Sydney and Newcastle areas ­– where approximately one third of Australia's carbon emissions are created.

BPH recognises that CCS has the potential to address climate change by lessening the impacts of carbon emissions.

BPH share price snapshot

The BPH share price has been performing well on the ASX lately, with today's news bringing its latest boost.

Currently, the BPH share price is 109.3% higher than it was at the start of 2021. It has also gained 1,197.13% since this time last year.

The company has a market capitalisation of around $59 million, with approximately 664 million shares outstanding.

The post Here's what's driving the BPH Energy (ASX:BPH) share price today appeared first on The Motley Fool Australia.

The BPH Energy Ltd (ASX:BPH) share price is rising this morning after the company released more news of the Baleen gas prospect.

The BPH Energy share price is up 7.78% to 9.7 cents at the time of writing.

What did BPH Energy announce today?

BPH Energy advised that its investee company, Advent Energy Ltd, has appointed Xodus Group to prepare a submission for the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).

BPH Energy holds a 26% stake in Advent Energy. Advent Energy's major shareholders also include MEC Resources Limited (ASX: MMR) and the de-listed Grandbridge Limited.

Xodus will prepare an environmental plan for activities at the Baleen prospect to be presented to NOPSEMA.

Let's take a closer look at today's news.

Next step forward

Before the Baleen prospect can begin, it must receive the go-ahead from NOPSEMA.

NOPSEMA must assess a company's health, safety, and environmental plans before any offshore petroleum or greenhouse gas storage activities can begin.

Last week, the BPH Energy share price soared when the company announced there's a high likelihood of striking gas at the Baleen prospect.

The company also hopes to use the site for carbon capture and storage, which could see it receiving Federal Government incentives.

The Baleen prospect is found within offshore licence PEP-11 ­– located off the coast of Newcastle.

PEP-11 is to be developed as a joint venture between Advent Energy and Bounty Oil & Gas NL (ASX: BUY). Advent holds 85% of the licence, while 15% is held by Bounty.

Xodus has been appointed under a lump sum contract. The cost that Advent Energy will pay Xodus to prepare the environmental plan is yet to be disclosed.

BPH Energy share price snapshot

The BPH Energy share price is having a fantastic 2021 on the ASX.

Currently, it is up 142% year to date. It has also gained 870% since this time last year.

The company has a market capitalisation of around $59 million, with approximately 664 million shares outstanding.

The post Here's why the BPH Energy (ASX:BPH) share price is up 7% today appeared first on The Motley Fool Australia.

Shares in BPH Group Ltd (ASX: BHP)  fell today after a senior executive at the company warned that Australia's trade tensions with China are a danger to the economy. The BHP share price closed 1.1% lower on Friday, with shares in the resources company swapping hands for $47.75.

According to reporting by The Australian, president of BHP Minerals Australia Edgar Basto believes Australian producers could face a 50% decline in the sale price of coking coal if they are unable to export to China. Coking coal – also known as metallurgical coal – is used to make steel.

BHP produced around 70 million tonnes of coking coal in 2020.  

The coal was unofficially banned by the Chinese Government in October last year. ABC News reported late last year that, in 2019, 24% of Australia's coking coal was exported to China.

Let's take a closer look at Basto's sombre warning.

Trade tensions have BHP on edge

Yesterday, Basto spoke at the Competitive Advantage Forum, hosted by BHP and The Australian.

He told the forum that losing China as a coal trading partner could have a devastating effect on producers' bottom lines.

Basto was quoted by The Australian today as saying:

BHP is also a major producer of Australian iron ore. China's importing of the mineral is yet to be affected by the political tensions. Although, China's National Development and Reform Commission has said it plans to up its domestic iron ore production.

On the risk of Australia losing China as an iron ore trading partner, Basto was quoted by The Australian as saying:

The outlook looks good long term but unfortunately the here and now is a slightly different story…

Overall I think it's a risk to the Australian economy and it's an important risk and I think we should be candid in the way we evaluate the risk.

BHP share price snapshot

Despite a poor end to this week, BHP shares are still having a good run on the ASX recently.

Currently, the BHP share price is up 12.54% year to date. It has also gained 38.37% since this time last year.

The company is one of the ASX's largest, with a market capitalisation of around $142 billion. It has approximately 5 billion shares outstanding.

The post BHP (ASX:BHP) share price ends lower amid continuing China trade woes appeared first on The Motley Fool Australia.

Shares in BPH Energy Ltd (ASX: BPH) are soaring with news of its subsidiary's Offshore Sydney Basin gas prospect. At the time of writing, the BPH share price has gained 21.9% as shares in the company trade for 8.9 cents.

BPH's investee company, Advent Energy Ltd, has reviewed a Geoscience Australia research report that uncovered geophysical gas indications in the basin.

The company, which has several interests including gas and oil exploration, said the basin was the closest potential new gas source to the New South Wales gas market.

BPH also advised on the potential for Advent's Baleen Well to be used for carbon capture and storage (CCS). Let's take a closer look at the news announced by BPH today.

Offshore Sydney Basin's potential 

According to BPH, the Australian government agency Geoscience Australia has found a high likelihood of striking gas in Advent Energy's Offshore Sydney Basin.

Geoscience claimed the likely presence of gas was evident from a series of pockmarks.

Advent is part of a joint venture in the promising part of the Offshore Sydney Basin, offshore license PEP-11, located off the coast of Newcastle.

The PEP-11 joint venture is between Advent and Bounty Oil & Gas NL (ASX: BUY), with 85% of the license held by Advent and 15% is held by Bounty. 

According to BPH's release, the development of Australia's energy resources is critical for Newcastle's industries, job creation, and power generation.

Further, Advent and Bounty believe a gas discovery in PEP-11 would be in line with the Federal Government's ambition to find gas supplies to help the region transition to electric power.

Carbon capture and storage

BPH also updated the market on an additional objective of Advent and Bounty's drilling in the Baleen Well, an area in the PEP-11 licence.

According to the company, the Federal Budget includes incentives for CCS technology.

BPH has previously announced the Baleen Well program could offer CCS for the greater Sydney and Newcastle area.

If successfully implemented, the Baleen Well would be the closest point of CCS to the area, producing approximately one-third of Australia's carbon emissions.

BPH Energy share price snapshot

The BPH Energy share price is having a ripper year on the ASX so far, with today's news bringing its latest boost.

Currently, BPH shares have gained 120% since the start of 2021. They've also gained 790% over the last 12 months.

The company has a market capitalisation of around $49.5 million, with approximately 664 million shares outstanding.

The post Here's why the BPH Energy (ASX:BPH) share price is up 22% today appeared first on The Motley Fool Australia.

The BPH Energy Ltd (ASX: BPH) share price has had a dramatic day today. BPH shares started the day at 16 cents a share. But the BPH share price plummeted 36.36% to just 10 cents a share in afternoon trading before being placed in a trading halt.

This latest move gives back most of the gains BPH investors have enjoyed since the company rocketed from 5 cents a share to as high as 33 cents in late January.

So what on earth is going on with this ASX energy company?

Well, unfortunately, we don't know too much yet, that's certain. But here's what we do know.

BPH share price in a trading halt

The BPH share price was having a fairly uneventful day, bobbing along at around 16 cents per share. Until midday, that was. BPH shares started dropping soon after noon, with the selling accelerating around 1pm. That's when the BPH share price hit 10 cents. At 2.02pm, BPH announced to the ASX that trading would be paused pending a further announcement.

At 2.48pm, the company released another announcement. This one told investors that BPH had requested an immediate halt to all trading of shares and options "pending an announcement to be made by the company to respond to an ASX price and volume query".

It went on to say the following:

The trading halt is necessary to assist the company in managing its continuous disclosure obligations as the company expects to make a material announcement to the market in relation to the stated purpose.

The company will continue to be suspended until 8 March, or when the company makes another statement. At the time of writing, that is all the information available.

What's been happening lately?

BPH Energy shareholders have had a rollercoaster of a ride over the past few months. This is the second trading suspension the company has faced in the past month alone.

It was only back on 17 February that shares were last suspended. Back then, it was due to several reports that implied BPH's proposal to use its PEP11 oil project in the Sydney basic to investigate the potential for a carbon, capture and storage project would be rejected by the New South Wales government.

In response, BPH released a statement that pointed out that the project would need to be blocked at the federal government level if it was to be derailed at all. And that's the last we've officially heard on this interesting saga to date.

It's possible that today's moves are the result of news of further development in this story (even though that doesn't appear to be public knowledge just yet). But, for now, we shall have to wait and see.

The post Why has the BPH Energy (ASX:BPH) share price tanked 36% today? appeared first on The Motley Fool Australia.

The BPH Energy Ltd (ASX: BPH) share price continues to do its dance of speculation. Up and down, the volatility persists, as it has since late January. The culprit appears to be the contest over whether a drilling program will go ahead.

Shares closed the day at 16.5 cents, down 24%.

Why is the BPH Energy share price falling?

The story so far

On 1 February BPH Energy announced its proposal to use the Sydney Basin drilling program to investigate the potential for a carbon capture and storage (CCS) project. The company proceeded to conduct a capital raise to fund the proposed project.

However, the party was crashed when NSW Deputy Premier John Barilaro stated he would refuse applications to extend the PEP11 oil project. This put BPH in a precarious position after already raising capital. The issue is PEP11 encompasses the area where BPH would deploy its CCS project.

BPH Energy clarified to shareholders that the project was subject to both state and federal government approval. Additionally, in the situation where federal and state levels are not in agreeance, the federal decision wins out.

Due to the erratic price and volume movements, BPH Energy received an ASX Price/Volume Query yesterday. Today's announcement addresses the queries made by the ASX.

Price query response

The company outlined its recent updates to the market that may have had an influence on the share price. Furthermore, the company noted there have been several media statements by the Joint Authority members, which includes the Federal Government Minister for Resources and the respective NSW Minister.

BPH Energy highlighted comments made by the Federal Minister Senator Hon. Keith Pitt MP on 12 February 2021, who stated that "A decision on Petroleum Exploration Permit 11 off the New South Wales coast" would not be delivered on that day and also indicated his "preference for the decision on the permit extension to be made soon."

In addition, Senator Pitt noted that detailed consideration would be given to the approval. This comment suggests there is potential the project may still be turned down. 

The BPH Energy share price dropped by as much as 30% in intraday trade in response and closed the day down 24% at 16.5 cents.

The post Why did the BPH Energy (ASX:BPH) share price tank 24% today? appeared first on The Motley Fool Australia.

The BPH Energy Ltd (ASX: BPH) share price saga continues today after the company's shares were placed in a trading suspension, soon followed by a trading halt.

BPH shares started the trading day at 13 cents apiece and dipped to 12 cents soon after. But someone lit a rocket under the company around 1pm which saw the BPH share price explode up 73.6% all the way to 22 cents each by 2pm. But that's where it ended for BPH for the day.

At 2.56pm, the company released a market announcement that told investors trading would be suspended pending a further announcement. Then at 3.38pm, another update was released. This told investors that the ASX would suspend BPH shares from trading until at least Friday 19 February, or whenever this announcement is finally… announced.

Today's move is just the latest chapter in what has been a very dramatic saga to watch. Back on 21 January, BPH shares were only 5 cents each. But by 28 January, the company was asking as much as 33 cents a share, a 560% surge in around a week. The catalyst?

Well, it's a little unclear. But soon after this move (on 1 February), BPH Energy announced it proposed to use the drilling program in the Sydney Basin to investigate the potential for a carbon, capture and storage (CCS) project with partner, Bounty Oil & Gas NL (ASX: BUY). It also announced a capital raise program to help fund this endeavour. The shares were placed in a trading halt. After it completed the capital raise, BPH shares rose 31% on its return to market trading.

BPH on a rollercoaster

However, soon after this, the company fell sharply (around 21%) following comments from the New South Wales Deputy Premier John Barilaro. Mr Barilaro stated that he was not in favour of the PEP11 oil project that BPH is aiming to deploy its CCS project within, and the application should be rejected. Mr Barilaro also reportedly stated that he would "refuse further applications to extend the life of PEP11".

It's these comments that have likely sparked the surge in BPH shares we have seen today. This morning, before market open, BPH issued an announcement which clarified that its PEP11 project was subject to approval from both the NSW government and the Federal government.

The release points out that, under the relevant legislation, if the state and the Commonwealth disagree on a permit, it's the Commonwealth opinion that prevails. That essentially renders Mr Barilaro's comments impotent regarding PEP11.

Thus, investors who might have assumed that PEP11 would be cancelled (meaning BPH had raised capital for nothing) are possibly breathing easier today. Or at least they were before the trading halt. We shall have to wait until (probably) Friday to see what BPH has up its sleeves for investors next.

The post Why BPH Energy (ASX:BPH) shares are now in a trading halt appeared first on The Motley Fool Australia.

The BPH Energy Ltd (ASX: BPH) share price has come under pressure on Thursday and is crashing notably lower.

In afternoon trade the biotechnology and mineral exploration company's shares are down a massive 21% to 11.5 cents.

This means the BPH Energy share price has now lost 66% of its value since peaking at 33.5 cents last month.

Why is the BPH Energy share price crashing lower?

Investors have been selling BPH Energy shares on Thursday following an update on its PEP 11 development.

PEP 11 covers 4,576 square kilometres of the offshore Sydney Basin immediately adjacent to the largest gas market in Australia. Management notes that it remains one of the most significant untested gas plays in the country.

BPH Energy has exposure to PEP 11 through its 33% ownership in Advent Energy.

What was the update?

On Wednesday New South Wales' Deputy Premier, John Barilaro, said he was not in favour of the oil project and the application should be rejected.

According to the Coast News, Mr Barilaro said he will "refuse further applications to extend the life of PEP 11."

He added that "PEP 11 was issued under a Commonwealth Act, the exploration area is in Commonwealth waters, and the ultimate decision-making power rests with the Commonwealth."

This is a big blow to Advent and BPH Energy, especially given that the latter has just raised $9 million to advance the project.

BPH Energy response

BPH has responded to the news.

It said: "The Joint Venture notes there have been reported press comments on 10th February 2021 attributed to the NSW Deputy Premier and Minister for Regional Industry and Trade, the Hon. John Barilaro MP. The Joint Venture has received no communication from the National Offshore Petroleum Titles Administrator (NOPTA) in respect of its current applications."

BPH and its Joint Venture Partners have sought clarification from NOPTA.

It added: "The Joint Venture Partners note that the Joint Venture has safely drilled on the PEP 11 permit previously to test for gas and it is confident it will safely do so again. The Joint Venture Partners have retained internationally recognised consultants to assist in this program. The Joint Venture Partners have just announced the appointment of a contracts manager for the Baleen well and are in the process of securing a rig and will release further details on this shortly."

The post Why the BPH Energy (ASX:BPH) share price is crashing 21% lower today appeared first on The Motley Fool Australia.

The BPH Energy Ltd (ASX: BPH) share price was a very strong performer on Wednesday.

At one stage, the biotechnology and mineral exploration company's shares were up as much as 32% to 22.5 cents.

The BPH Energy share price ultimately gave back some of these gains and ended the day 23.5% higher at 21 cents.

Why did the BPH Energy share price rocket higher?

Investors were buying BPH Energy shares this morning after they returned from a trading half following the successful completion of a placement.

According to the release, the company has raised a total of $9 million via the placement of ~69.2 million shares to sophisticated and professional investors at a price of 13 cents per share. This placement price represents a 23.5% discount to its last close price.

The placement was led by Everblu Capital, which placed $7 million and will receive a fee of 6% of the funds raised together with 6 million share options. These options have an exercise price of 26 cents per share and an expiry date of 8 February 2023.

In addition to this, 62 Capital placed $1.5 million and will also receive 6% of the funds raised together with 1,285,714 share options.

Finally, an amount of $500,000 was placed by Grandbridge Securities, which will receive a fee of 6% of these funds raised.

BPH Energy's Managing Director, David Breeze, commented: "The Company is pleased to receive funding from a range of investors including existing and new shareholders, and others who participated in the Placement through Everblu Capital and 62 Capital."

Everblu Capital added: "We were extremely pleased to see the quality of new investors on the register. The level of demand highlights the company's current growth trajectory, and we look forward to BPH continuing to deliver to shareholders."

How will the company spend the proceeds?

Management advised that the majority of the proceeds will be used to invest in Advent Energy.

These funds will then be used by Advent to progress well planning, engineering, and environmental approvals for drilling at the Baleen drill target in the PEP11 offshore permit in NSW. Approximately $5.75 million of the capital raised is expected to be used for this purpose.

It will increase its shareholding in Advent from 22% to approximately 33%, subject to any required approvals.

In addition to this, the company intends to use $0.5 million of the proceeds to increase its shareholding in Cortical Dynamics from 16% to 18%. These funds will then help Cortical Dynamics to further develop its Brain Anesthesia Response Monitor (BARM).

The post Why the BPH Energy (ASX:BPH) share price rocketed 32% higher today appeared first on The Motley Fool Australia.

Australia's leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here's the data:

BPH Energy Ltd (ASX: BPH)

This small cap biotechnology and mineral exploration company was the most traded share on the CommSec platform last week. BPH Energy's shares were responsible for 2.4% of total trades on the platform, with 63% coming from buyers. Those buyers will be pleased to have seen the BPH Energy share price rocket 200% over the five days. Excitement around its Baleen Well drilling appears to have been the catalyst for this.

Zip Co Ltd (ASX: Z1P)

Zip shares were popular with investors again last week. The buy now pay later provider's shares were attributable to 2.2% of trades on the platform. On this occasion, the buying and selling was evenly split. It may be partly for this reason that the Zip share price was largely flat for the week. Which isn't a bad outcome considering the ASX 200's 2.8% weekly decline. A week earlier, the Zip share price jumped 30% following its second quarter update.

Novonix Ltd (ASX: NVX)

This battery materials company's shares were responsible for 2.2% of total trades on CommSec over the five days. And although almost two-thirds of these trades came from buyers, it wasn't enough to stop the Novonix share price from dropping 6.8% last week. Nevertheless, the company's shares are still up over 100% since the start of 2021.

Fortescue Metals Group Limited (ASX: FMG)

CommSec users were buying Fortescue shares in large numbers last week following its second quarter update. The iron ore giant's shares were attributable for 1.8% of total trades, with a massive 80% coming from the buy side. Unfortunately for these buyers, the Fortescue share price shed 10% of its value over the week.

Lake Resources N.L. (ASX: LKE)

Another battery materials company which was popular with investors was lithium-focused Lake Resources. Its shares were responsible for 1.8% of trades on the platform, with 70% coming from buyers. Last week Lake raised $20.6 million via a placement. Investors appear pleased that its flagship Kachi Lithium Brine Project is now fully funded through to the construction phase in 2022. The Lake share price jumped almost 43% over the week.

The post BHP Energy and Zip were among the most traded ASX shares last week appeared first on The Motley Fool Australia.

Today BPH Energy Ltd (ASX: BPH) shares were placed in a trading halt after the company announced it is planning on undertaking a capital raising. At the close of market on Friday, the BPH share price was sitting at 17 cents.

The small-cap ASX share also released its quarterly activities and cash flow reports to the market today.

Trading halt

Today BPH Energy shares were placed in a trading halt at the request of the company "for the purpose of considering, planning and executing a capital raising".

The company has requested its shares remain in the trading halt until either the announcement is made or before the commencement of normal trading on 3 February. BPH Energy further advised it expected the announcement will be made before Wednesday.

It's possible the funds will be used on the company's interests in the Sydney Basin mentioned below.

Operations report

During the quarter, Advent Energy, of which BPH is a substantial shareholder, submitted an application to the National Offshore Petroleum Titles Administrator (NOPTA). The application was a request to enable drilling of the Baleen drill target in the PEP11 permit offshore from Newcastle, New South Wales. The PEP11 joint venture has reviewed the work program and now expects to proceed with the drilling of a well as soon as the approvals from NOPTA and other authorities are received. This project still requires financing.

BPH energy is proposing with its partner, Bounty Oil & Gas NL (ASX: BUY), to use the drilling program at Baleen to investigate the potential for carbon, capture and storage (CCS) in the works. CCS is a process that can capture carbon dioxide fossil fuel emissions. Both the International Energy Agency and the Intergovernmental Panel on Climate Change believe that CCS can play an important role in helping to meet global emission reduction targets. To this end, during the quarter, BPH appointed earth scientist Peter Cook as an advisor for CCS.

On an interesting side note, Sydney Basin projects are major contributors to Australia's greenhouse gas emissions and currently contribute up to 34% of our total national emissions.

About the BPH Energy share price

Whilst BPH Energy shares remain in a trading halt, according to Commsec they are expected to open 5.88% higher to a price of 18 cents when trading resumes.

The BPH Energy share price was also rocketing higher last week, gaining 165% for the week by Friday's market close.

The post Why BPH Energy (ASX:BPH) shares are in a trading halt appeared first on The Motley Fool Australia.