Subsequent to BPH Energy Limited's advised that OMV New Zealand Limited (OMV or Farminor) has returned USD 1.621 million (approximately AUD 2,423,000) to BPH's 36.1% associate Advent Energy Limited's (Advent) 100% subsidiary Aotearoa Offshore Limited (AOL or Farminee) in accordance with the termination of the Farm Out Agreement (Agreement) executed on 24th December 2021. The USD 1.621 million represents the Earning Costs 1 ("Earning Costs") based on Agreement clause 5.1 paid by the Farminee to the Farminor in early 2022. As a consequence of the termination of the Agreement the Advent group will now repay BPH by 31 December 2022: the AUD 2,257,345 loan from BPH to pay for the Earning Costs 1. the AUD 800,000 BPH loaned the Advent group to fund Year 1 exploration costs.

accrued interest on these loans of AUD 146,152. The current energy crisis has impacted all Australians and has reaffirmed the importance of BPH's energy investments. The termination of the NZ Farmout agreement will enable Advent to focus on its Australian gas projects including importantly PEP11.