Current Market Cap 12 million
1. Derby Block (Canning Basin) Min 25% and operator (No native title issues)
Fully funded for seismic year 1
2. Backreef Block (Canning Basin) 100% and operator (No Native title issues).
Environmental approvals nearly finalised and farmout ready and start a drilling program.
3. Cyrano (Carnavon Basin) 100%
Farmout ready and or for sale
4. VIC/P41 35.435% & VIC/P47 25% (Gippsland Basin)
Fully Funded for year 1. Actively seeking to improve position and get things moving.
DYOR. Honestly, OBL will have more than 2 million in the bank and these assets ready to go. The derisking of assets has continued to make these assets very valuable.
I am interested and cant wait for some independent expert opinions and value what OBL have.
If you use REY and BRU as examples I am sure a calculation of 5c plus minimum would be a given. ie 30 million easy. Then potential upside based on certain events need to be factored in to current share price and you get another 5c.
I would guess a market cap of 60 million is reasonable.
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