You also know that BRU have made an offer for 50% of Derby which Backreef Oil agreed and breached there agreement with OBL.
For BRU to jump at the chance they must think it is a bargain and they are buying from a desperate seller who failed in trying to list YDO.
I think you will find OBL will get the backing and exercise their rights and end up with 75% including the farmout of 25% to OXX. Backreef Oil have breached agreements and could end up with nothing.
BRU are desperate to own the lot as they need to own it all to fall under their state agreement. Therefore, unless they takeover OBL, it is not worth BRU waisting their time and money. For BRU to end up with 50% and fight a losing battle through the courts and for the block not be under the state agreement does not make sense.
To buy out OBL or takeover OBL makes sense. This is why BRU supporters want OBL to fail. The mindset should be, we are all in this together and if OBL make discoveries next door to BRU and visa versa it will be good for all. There will also be savings in sharing rigs etc etc.
OBL will have plenty of backing and support the minute a decision is made in their favour.
10c plus is a given.
OBL Price at posting:
2.6¢ Sentiment: ST Buy Disclosure: Held
