BPH Energy: Launches $1.2m share placement to fund oil and gas exploration and hydrogen strategy

BPH Energy Launches $1.2m share placement to fund oil and gas exploration and hydrogen strategy

• BPH Energy (BPH) is set to raise $1.2 million through a private share placement to support its investment in clean hydrogen tech and oil and gas project development
• The company will issue roughly 66 million new shares at 1.8 cents per share to raise the funds, representing a 21.7 per cent discount to its last closing price
• Placement participants will also receive one free option for every new share, exercisable at three cents and expiring on September 30, 2024
• BPH says it is now well-funded to pursue the next phase of its investment in hydrogen and its proposed PEP 11 gas and carbon capture storage project in offshore NSW
• Shares in BPH are down 8.7 per cent and trading at 2.1 cents as of 2:31 pm AEST