Most likely some time between mid 2014 and mid 2015.
The issue with Backreef/OBL/OXX/BRU will take something between 2-6 months to get sorted legally. It took 2 months to sort out Backreef between BRU and OBL back in the day and 5-6 months to sort out BRU and REY more recently. Importantly both these wranglings ended in negotiated compromises. I was in OBL when Backreef was "won", but let's remember BRU had back in rights to the well too. Similarly REY used their pre-existing rights to negotiate the right to *purchase* an extra 15% equity off Buru.
Although I do agree OBL seem very confident, everyone always is. Regardless of the outcome, a major won't farm in during this time.
Derby has work commitments in 2015 and anyone farming in will know they have a while to get things ramped up. OBL themselves have scraped in work commitments almost to the hour previously, it's not exactly rare to wait pretty late and get your ducks lined up.
It's uncommon to get things happening quickly, especially with large companies. NSE took two months to go from a HOA agreement to a binding farm in. They took a full year from the HOA agreement with Conoco to having a drill in the ground. Then you've got to look at the drilling season.
Realistically it's a year plus legal wrangling. Which probably puts it past the 2014 dry season.
That would be a realistic estimate.
You never know though a rabbit could be pulled out of a hat, maybe the legals happen quickly (I'm certainly not privy to the strength of any case, I'm just rather prudently not dismissing it out of hand) and maybe a mid tier farms in or at least free-carries OBL and maybe something can get up this time next year. Don't forget they should be doing seismic as well before a drill.
O&G. Everything takes forever.
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