Agree bhutos,
There had been no agreement that I can see for BOL to have given OBL first refusal if they had wished to relinquish their interest in the permit. So, by not doing so, the OBL /BOL 50/50 agreement has left the door open as they have both been trying to farm-out to other interested companies.
Whether viewed positively or otherwise by other posters, at least BRU have concluded the permit to be highly desirable for their pursuits, which is in the scheme of things good for OBL and will hopefully reflect more favourably on the sp as time goes on.
OBL will get something out of the $3.5M. It probably won’t be much but they will receive $100,000 plus any costs expended in previous exploration costs (studies etc.) and there were two of them.
Regards.
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