Ann: Derby Block (EP 487) Update, page-2

So basically. OBL at the earliest, will start doing 2D seismic in July next year. Finish in August/Sept, process Oct/Nov/Dev and then have to wait for another wet season before drilling so perhaps April/May at the earliest. So 18-20 months before any real exploration might occur.

Another 90 days before any real decision on the ownership of the Derby block to boot.

Sorry, but OBL should just pack it in. All these years and nothing. No oil production, no successful wells. There comes a time when management should just call it quits, or sell up.

Even if OBL do nothing, and do get the injection of funds from OXX assuming everything goes to plan, they won't have the money to pay for the 2D seismic with all the admin cash burn.

I know this is a very negative view on things... I look forward to hearing from the die hard OBLs and whether you can change my view on things as they stand right now.

I know one of my friends wanted to hold OBL for when BRU starts its gas program next year, but I wonder if he will change his mind now. Almost 2 years to wait for any real drilling results. Thats an eternity in the stock market.