Asset Energy reviews amid Scomo inquiry

Asset Energy is reviewing its legal options against former prime minister Scott Morrison following the revelation of his secret ministerial roles.

The North Perth-based gas explorer lodged a Federal Court application in June, seeking to appeal the federal government's refusal to grant it a petroleum exploration permit.

The Minister for Regional New South Wales and the prime minister, in their capacities as respective ministers of the Commonwealth-New South Wales Offshore Petroleum Joint Authority, were named as the respondents.

Asset Energy is a subsidiary of Advent Energy, in which BPH Energy has a 36.1 per cent direct interest.

Bounty Oil and Gas NL was in a joint venture with Asset Energy in the gas exploration in the offshore Sydney Basin under the federal Petroleum Exploration Permit 11 (PEP-11).

In December, Mr Morrison announced the federal government would refuse the joint venture's application to extend the PEP-11.

However, Prime Minister Anthony Albanese recently revealed Mr Morrison appointed himself to five other portfolios without informing his cabinet or the public.

Mr Morrison was sworn into the health, finance, home affairs, treasury and resources portfolio in 2020 and 2021.

BPH Energy announced on the ASX that it was undertaking a full review of its options, including potential for legal channels, following the reveal of Mr Morrison's ministerial appointments.

"In June 2022, Asset Energy [wholly owned subsidiary of BPH’s investee Advent Energy] commenced proceedings in the Federal Court of Australia alleging that the former prime minister Scott Morrison was biased and failed to afford procedural fairness in his decision not to grant an extension of term and a suspension and variation of the minimum work requirements under PEP-11," the announcement said.

"Following recent revelations that Scott Morrison took responsibility in a number of portfolios including resources, Prime Minister Anthony Albanese has sought advice as to whether Mr Morrison’s appointments and decisions, which includes the PEP-11 decision, were beyond power."

Mr Albanese announced yesterday that an inquiry into Mr Morrison's ministerial appointments will be established and run independently from the government.

"In summary, the solicitor general has concluded that Mr Morrison was validly appointed by the governor general to administer the various departments to which he was appointed," he said.

"But it particularly considered the issue of the Department of Resources because quite clearly we know that a decision was made on the PEP-11 gas project there."

Asset Energy also announced on the ASX yesterday that it had paused trading temporarily.

Advent Energy is an unlisted oil and gas exploration company held by BPH Energy, Grandbridge and MEC Resources.