BPH ENERGY LTD — Capital/Financing Update 2010

Dec 14, 2010

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15 December 2010

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

Dear Sir/Madam,

BPH Energy Limited – Allocation of Placement

BPH Energ y Ltd ( formerly BPH Corporate Ltd - ASX:BPH) is pleased to ad vise tha t it ha s successfully com pleted its pos t con solidation c apital r aising rece iving subscrip tions in exc ess of $11.5M.

A total of 50,951,205 ordinary fully paid shares and 10,190,356 free attaching options were allotted and issued into the issuer sponsored sub register on 14 December 2010.

The Directors of BPH would like to thank all participants of the Offer and extend a warm welcome to all new shareholders of BPH.

Please find attached the shareholder distribution schedule detailing the 20 largest holders by each class and a distribution schedule of options setting out the num ber of holders in each category per item 36 of the Appendix 3B. An Appendix 3B detailing the issue is also attached.

Yours Sincerely

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Deborah Ambrosini

Director and Company Secretary

BPH Energy Limited ACN 95 912 002 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

Security Transfer Registrars Pty Ltd/ BE/BE / / BPH CORPORATE LIMITED FULLY PAID Page - 1 HOLDER NAME DESIGNATION 1 * MEC RES LTD 2 MEC RES LTD 3 * TRANDCORP PL 4 * GRANDBRIDGE LTD 5 AVATAR EQUITIES PL AVATAR SHARE TRADI 6 * HASSLINGER ALBAN HORST 7 ONYX CAP ONYX CAP UNIT A/C 8 * TRANDCORP PL D & J BREEZE SUPER 9 KIZOGO PL BERGAN EXEC RETMNT 10 JP MORGAN NOM AUST LTD CASH INCOME A/C 11 * CLAYMORE CAP PL 12 YEWFONG CO PL 13 CLAYMORE CAP PL 14 HUTCHFIELD ROBERT A 15 * ACT 2 PL 16 * TAYCOL NOM PL 17 SPINITE PL 18 JOJO ENTPS PL SFI FAM A/C 19 WHYTE SUPER CUST PL WARNEET MGNT S/F A 20 NEURODISCOVERY LTD *** TOP 20 TOTAL *** ** ALL HOLDERS INCLUDED * - DENOTES MERGED HO	SPREAD&	TOP	20 LISTING T STATUS -* S % OF ISSUED 18.75% 8.10% 2.21% 1.57% 1.02% .95% .82% .74% .64% .63% .61% .58% .53% .52% .46% .45% .43% .41% .41% .41 % 40.24 %	*- AS AT:30/11/10 -* RSPTP USER - SAMANTHA Date - 14/12/10 Time - 18.04.48 UNITS 58,750,000 17.83% 1 % OF ISSUED 34,955,069 10.61% 2 9,545,000 2.90% 3 6,778,200 2.06% 4 4,251,701 1.29% 5 3,575,000 1.09% 6 3,183,852 .97% 7 2,824,967 .86% 8 2,642,900 .80% 10 1,647,319 .50% 15 2,275,198 .69% 11 2,245,000 .68% 12 2,000,000 .61% 13 159,439 .05%288 1,850,340 .56% 14 142,129 .04%344 136,826,114 41.54 %
	*- CURREN UNITS 40,436,947 17,477,535 4,772,500 3,389,100 2,192,223 2,042,480 1,769,912 1,591,926 1,387,401 1,357,434 1,321,450 1,250,000 1,137,599 1,122,500 1,000,000 964,676 925,170 894,956 884,956 884,956	CURREN UNITS
	86,803,721			136,826,114
	LDER

	Security Transfer Registrars Pty Ltd/ BE/BE BPH CORPORATE LIMITED FULLY PAID SPREADOF HOLDINGS HOLDERS NIL HOLDING 1 - 1,000 413 1,001 - 5,000 687 5,001 - 10,000 530 10,001 - 100,000 1499 100,001 -324 TOTAL ON REGISTER3453 TOTAL OVERSEAS HOLDERS 54 ANALYSIS BY LOCATION (EXCLUDES ZERO HOLDERS) OVERSEAS 54 AUSTRALIA : ACT 72 NSW 1203 VIC 792 QLD 470 SA 183 WA 517 TAS 41 NT 12 ADDRESS UNKNOWN 109 3453	/ / UNITS 187,015 2,328,998 4,158,387 53,971,623 155,022,684 215,668,707 4,268,954 4,268,954 1,751,176 51,496,659 33,664,348 17,327,584 6,635,840 98,541,808 1,273,263 161,260 547,815 215,668,707	S	PR	EAD&	TOP 20 LISTING Date - 14/12/10 Time - 18.04.48 SRSPTP Page - 1 User - SAMANTHA SUEDCAPITAL .09 % 1.08 % 1.93 % 25.03 % 71.88 % 100.00 % 1.98 % 1.98 % .81 % 23.88 % 15.61 % 8.03 % 3.08 % 45.69 % .59 % .07 % .25 % 100.00 %
				%	OF IS

  ** ALL HOLDERS INCLUDED                  ***  COMMON HOLDERS MERGED INTO ONE HOLDING

	Security Transfer Registrars Pty Ltd/ BB/BB / / BPH CORPORATE LIMITED OPTIONS EXP 08/12/2011 @ $0.20 SPREADOF HOLDINGS HOLDERS UNITS NIL HOLDING 1 - 1,000 74 64,092 1,001 - 5,000 151 400,905 5,001 - 10,000 128 985,890 10,001 - 100,000 201 5,332,390 100,001 - 7 3,407,079 TOTAL ON REGISTER561 10,190,356 TOTAL OVERSEAS HOLDERS 6 264,604 ANALYSIS BY LOCATION (EXCLUDES ZERO HOLDERS) OVERSEAS 6 264,604 AUSTRALIA : ACT 14 94,694 NSW 199 2,121,076 VIC 118 1,753,017 QLD 63 624,176 SA 29 303,546 WA 129 5,018,623 TAS 2 9,735 NT 0 ADDRESS UNKNOWN 1 885 561 10,190,356	S	PR	EAD&	TOP 20 LISTING Date - 14/12/10 Time - 18.05.04 SRSPTP Page - 1 User - SAMANTHA SUEDCAPITAL .63 % 3.93 % 9.67 % 52.33 % 33.43 % 100.00 % 2.60 % 2.60 % .93 % 20.81 % 17.20 % 6.13 % 2.98 % 49.25 % .10 % .00 % .01 % 100.00 %
			%	OF IS

  ** ALL HOLDERS INCLUDED                  ***  COMMON HOLDERS MERGED INTO ONE HOLDING

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

BPH Energy Limited ( formerly BPH Corporate Limited )

ABN

41 095 912 002

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of+securities issued or to be issued 2 Number of+securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the+securities (eg, if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Ordinary
	50,951,205 ordinary shares 10,190,356 quoted options exercisable at 20c on or before 8 December 2011
	Ordinary shares Options: Exercisable at 20c on or before 8 December 2011

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 1

Appendix 3B New issue announcement

4 Do the+securities rank equally in all respects from the date of allotment with an existing+class of quoted+securities? If the additional securities do not rank equally, please state:  the date from which they do  the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment  the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) 7 Dates of entering +securities into uncertificated holdings or despatch of certificates 8 Number and +class of all +securities quoted on ASX (including the securities in clause 2 if applicable)	Ordinary Shares ‐ Yes	Ordinary Shares ‐ Yes
	$11,514,920
	Placement funds raised
	14 December 2010
	Number	+Class
	206,293,707 Post Consolidation 10,190,356	Ordinary Options exercisable at 20c on or before 8 December 2011

• See chapter 19 for defined terms.

Appendix 3B Page 2

24/10/2005

Appendix 3B New issue announcement

9 Number and +class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)	Number	+Class
	6,000,000 4,550,000 150,000 20,000 3,000,000 9,375,000 Post Consolidation	Options exercisable at 15c each expiring 31 December 2010 Options issued under the employee share option scheme Options issued under the employee share option scheme Options issued under the employee share option scheme Options exercisable at 45c each expiring 31 December 2014 Ordinary Shares restricted until 4 October 2011

10	Dividend policy (in the case of a
	trust, distribution policy) on the
	increased capital (interests)

Part 2 - Bonus issue or pro rata issue

11 Is security holder approval required? 12 Is the issue renounceable or non‐ renounceable? 13 Ratio in which the+securities will be offered	n/a
	n/a
	n/a

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 3

Appendix 3B New issue announcement

14 +Class of+securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has+security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of+security holders 25 If the issue is contingent on +security holders’ approval, the date of the meeting	n/a
	n/a
	n/a
	n/a
	n/a
	n/a
	n/a
	n/a
	n/a
	n/a
	n/a
	n/a

• See chapter 19 for defined terms.

Appendix 3B Page 4

24/10/2005

Appendix 3B New issue announcement

26 Date entitlement and acceptance n/a form and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, n/a and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if n/a applicable) 29 Date rights trading will end (if n/a applicable) 30 How do[+] security holders sell n/a their entitlements in full through a broker? 31 How do[+] security holders sell n/a part of their entitlements through a broker and accept for the balance? 32 How do +security holders n/a dispose of their entitlements (except by sale through a broker)? 33 +Despatch date n/a

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities ( tick one )

(a) Securities described in Part 1

(b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 5

Appendix 3B New issue announcement

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

• 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories

• 1 ‐ 1,000

1,001 ‐ 5,000 5,001 ‐ 10,000 10,001 ‐ 100,000 100,001 and over

• 37 A copy of any trust deed for the additional[+] securities

Entities that have ticked box 34(b)

38	Number of securities for which
	+quotation is sought
39	Class of +securities for which
	quotation is sought
40	Do the+securities rank equally in
	all respects from the date of
	allotment with an existing+class
	of quoted+securities?
	If the additional securities do not
	rank equally, please state:
	 the date from which they do
	 the extent to which they
	participate for the next
	dividend, (in the case of a
	trust, distribution) or interest
	payment
	 the extent to which they do
	not rank equally, other than in
	relation to the next dividend,
	distribution or interest
	payment

• See chapter 19 for defined terms.

Appendix 3B Page 6

24/10/2005

Appendix 3B New issue announcement

41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security)

Number +Class

42 Number and +class of all +securities quoted on ASX ( including the securities in clause 38)

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted +quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no‐one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 7

Appendix 3B New issue announcement

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here: Date: 15 December 2010

(Director/Company secretary)

Print name: Deborah Ambrosini

• See chapter 19 for defined terms.

Appendix 3B Page 8

24/10/2005