perspective, page-24

Keith,

I only know of one application re native title for 100% of the area.

This maybe where the confusion occurred.

From the Derby update......

The Company also advises that on 21 December 2012 it formally advised its joint applicant Backreef Oil Pty Limited (“Backreef”) that in OBL’s opinion Backreef was in breach of its commercial undertakings with OBL in its proposed sale of its 50% application interest and all other rights in the Derby Block to a third party and consequently the Company intends to fully pursue its rights.

Note the word "proposed"