BPH ENERGY LTD — Capital/Financing Update 2011

Jan 6, 2011

==> picture [242 x 93] intentionally omitted <==

7 January 2011

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

Dear Sir/Madam,

UPDATED CAPITAL STRUCTURE

Following the expiry of 10,000 unquoted options, the Company wishes to update the market on its revised capital structure:

Quoted Securities

Ordinary Fully Paid SharesShare issued under the ProspectusTotal Shares on Issue	155,342,50250,951,205206,293,707

Quoted Options

Options exercisable at 20c on or before 8 December 2011 issued under the Prospectus – 10,190,356

Restricted Securities

Ordinary Fully Paid Shares 9,375,000

Unquoted Securities

• Options exercisable at $0.294 and expiring 31 December 2010 – 3,000,000

• Options exercisable at $0.894 and expiring 31 December 2014 – 1,500,000

• Options issued under employee incentive scheme exercisable at the average amount determined by the market price for the 5 days prior to exercise expiring 17 October 2011 – 250,000

• Options issued under employee incentive scheme exercisable at the average amount determined by the market price for the 5 days prior to exercise expiring 29 April 2013 –250,000

• Options issued under employee incentive scheme exercisable at $0.294 expiring 1 June 2013 – 1,275,000

• Options issued under employee incentive scheme exercisable at $0.294 expiring 16 December 2013 – 500,000

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

• Options issued under employee incentive scheme exercisable at $0.594 expiring 30 September 2013 – 75,000

Yours Sincerely

==> picture [115 x 34] intentionally omitted <==

Deborah Ambrosini Executive Director