BPH ENERGY LTD — Capital/Financing Update 2010

Dec 20, 2010

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20 December 2010

Companies Announcements Office ASX Limited 10[th] Floor, 20 Bond Street SYDNEY NSW 2000

Dear Sir/Madam,

UNDERWRITING DETAILS

BPH Energy Ltd ( formerly BPH Corporate Ltd - ASX:BPH) is pleased to advise that it has successfully completed its post consolidation capital raising receiving subscriptions in excess of $11.5M.

A total of 50,951,205 ordinary fully paid shares and 10,190,241 free attaching options were allotted and issued into the issuer sponsored sub register on 14 December 2010.

There were no shares issued to the Underwriter Grandbridge Securities. However, a total of 11,061,947 shares were issued to MEC Resources ( MEC ) in connection with its sub-underwriting commitment.

Grandbridge Securities has been paid of $466,290 for the services provided during the raising. MEC will receive a sub-underwriting fee equivalent to 3% of the funds raised by MEC. Payment of MEC’s sub-underwriting fee is the responsibility of Grandbridge Securities.

Yours sincerely

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Deborah Ambrosini Executive Director

BPH Energy Limited ACN 095 912 002 PO Box 317, North Perth, Western Australia 6906 14 View Street, North Perth, Western Australia 6006 admin@biopharmica.com.au www.biopharmica.com.au

T: +61 8 9328 8366 F: +61 8 9328 8733