Advent Energy's wholly-owned unit Asset Energy applied to the Federal Court for an originating application for a judicial review of a decision made by the Commonwealth-New South Wales Offshore Petroleum Joint Authority, according to a Thursday Australian bourse filing.
BPH Energy (ASX:BPH) owns a 36.1% stake in Advent Energy and Mec Resources (ASX:MMR) owns a 37.95% stake in the oil and gas firm.
The regulator refused the joint venture applications filed on Jan. 23, 2020, and March 17, 2021, to "vary and suspend the conditions" of the PEP-11 oil and gas permit off the New South Wales coast, as well as to extend the term of the permit area.
Asset Energy filed the appeal as the operator of the PEP-11 joint venture and on behalf of partners Asset Energy and Bounty Oil and Gas (ASX:BUY).
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