However , the money raised should go further than we think according to the East Blina-1 Operations Report No. 5 31/Oct/2012 :- - "OBL has demonstrated that, with deployment of a ‘small footprint’ modern mobile drilling rig, future oil exploration wells targeting Laurel / Yellow Drum reservoirs within the Backreef Area can be drilled at a reasonable cost."
I think OBL are looking at the farmin as a sort of down payment from FMG and that if the results are promising , FMG will want to commit much more serious money to the development .
It's not just the finance from the farmin but getting the right farmin partner and I think OBL have got the one they wanted .
OBL Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
