Ann: Change of Director's Interest Notice , page-12

Agree with the previous comments.
In respect to the company's Securities Trading Policy
(which is consistent with the requirements under the act),
this specifies the restrictions for trading by company officers. While 'blackout' periods remain a generally not as black and white as one would like under the act, individual company's such as OBL specify these in more detail in their policies. OBL indicates fo example that directors may trade in a period commencing one day following release of price sensitive information. With regard to this item, McGrath's purchases follow on the back of the previous market update indicated as price sensitive. As for the somewhat minor $7500 purchase by Doyle on the same day as the announcement, not sure as to the timing since a day later would have met the 'rule' noted, but given the minimal purchase amount, maybe neither here nor there. However the $100k+ purchases by the Chairman, considering the timing immediately following the announcement (i.e 3/4 days following), and the volume (with respect to liquidity on the buy/sell side, as well as recent average trading), coupled with the fact the announcement was not negative, suggests that ensuing clarification and news will be very positive. The chair sits on more than one company, and is highly doubtful would be engaged in anything untoward. Rather appears he has taken the legally available opportunity to purchase stock in the same manner as you and I. The difference of course is he likely has more information, however previous announcements to the public offer similar information. In regards to the previous announcement, I doubt he knows 100% the results of the drilling since as indicated there are delays given availability of consultants for the job at hand, so unless he gets down there with a shovel and beaker himself, more likely he'll be waiting like the rest of us. The expectations would however be that results would be very good, hence his decision to purchase a reasonable sum. Many posters here provide similar sentiments, however the difference is the chair placed $100k orders to substantiate those (specifically his) sentiments. A long ramble, but in my view, appears the purchases were all above board. Further reading through many other forums often highlights the opposite where posters complain as to why those company directors don't buy their own company stocks as a sign of confidence and good faith as an attempt to support the stock price. So from this thread it now appears if a director doesn't buy, then the company is no good, but if he does buy, then the company is up to something devious!
In regard to OBL, while a small cap and highly speculative, I'm still surprised at the sp being at this level - the next ann should establish some form of base going forward. Problem is the available volume for trading is incredibly low. If an ann is very good, then unless sellers suddenly appear with lots in the millions, price would move pretty quickly. I have no idea as to the majority holders out there and what percentage is in the hands of trading institutions. I have a small 0.5% and other posters indicate they hold in the small 1-2% range. It cost me a premium to get my holding (got in before the volume spikes in the past few days so had to take out a couple of ticks), so would be interested in knowing from posters what percentages they own. If everyone held a half a percent, then that would only take 200 holders and there's the company. Time will tell, but the more stocks traded to a holder with the intent for long term holding (such as McGrath hopefully), then the less available for the shorter day-week traders to turn over. And if the ann is positive and we get farmins on board, the the risk of cr is hopefully lessened.