Ann: Update on Derby Block , page-40

Good advice footy - I have also found Anatol's research on the Canning Basin to be 1st class (he often includes maps of who is leasing what and where which is very helpful for the newbies).

Also, well put on the OBL / Backreef tied original deal.
I can only think that there has to be a clause - a not that unusual clause in these deals - that states Backreef must first offer the sale to OBL. You see such clauses all the time in business partnerships and I would think there would be a heap of legal precedent to back up OBL's position.
I seem to remember Backreef only sold because the Director was trying to get an IPO up and running on another company (Yeeda oil??...although I could be wrong on that. Others may know more on the issue than I do).

Either way, you can smell the sharks circling OBL and wanting a piece of the action on the Derby block. So I back OBL Directors fully (not that they would care what I think, me being a small retail investor) on getting the lawyers involved on this one. It is potentially (make that actually)worth millions to OBL, if we can buy it instead of BRU. Just imagine the bargaining power that will give the Directors when wheeling and dealing with the multi-national corporations. Just imagine what such a deal will do to the OBL sp!
We live in interesting times.

All the above is my personal opinion. It is not investment advice. DYOR.