Ann: March 2013 Quarterly Activities Report , page-2

These are interesting comments.

'Whilst there are presently no work program obligations for the Company during 2013 within the Backreef Area, the Company remains committed to the Backreef Area and is looking at ways to accelerate a meaningful operational program during 2013.'

OBL do not make statements like that unless they are confident. I would be expecting a possible farmin and us SPP takers to make good coin soon.

'OBL subsequently announced to the ASX on 6 February 2013 that the Company (as required under the terms of undertakings with its joint applicant) has offered 50% of its priority transaction with Octanex.'

Even though Derby is 3 months away, I would expect OBL to be granted and end up with 37.5% at least as per their agreement with BOPL.

Major players are interested in all assets. Let's see what OBL can do.