Great News that extension of suspension till end of March.
Oil price up and BRU up 8%.
Lind has no shares at the moment and there is no downward pressure on the share price.
Remember with LIND
OBL has a unique contingent funding facility negotiated when WTI crude oil
prices were above US$110/barrel and there are no fees payable.
Should the facility be re-instigated, the facility has no capital market
index falls or oil pricing falls termination clauses and the discount is
8.5% on the three lowest OBL VWAP based prices in the preceding month.
If needed after 31 March the preceding month will be March and the ownership issue will be sorted by end of Feb. Share price should be much higher. No obligation to use it. I am expecting a farmin deal to happen before end of March and don't need Lind.
The residual capacity is up to AU$5.4 million - tranches from $100k to $300k
pcm.
Assist OBL's current audit process. Very good Management planning.
Enables OBL to accept 100% of Derby Block obligations should the SAT action
go OBL's way
It will not take much to get this back to a cent.
OBL Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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