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Feb 15 (Reuters) - Oil Basins Ltd (OBL) : Legal proceedings &...

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    15/02/16
    10:57
    Post #: 17020069

    Feb 15 (Reuters) - Oil Basins Ltd (OBL) :

    • Legal proceedings & derby block update (OBL)
    • Says has been served with a summons filed in the supreme court of Western Australia dated 10 February 2016
    • Says it is intended that the legal proceedings, which could take some time to be heard, will be solidly defended
    • Says action has been brought by Rey Resources Limited
    • Obl confirms that it has not resigned as operator of ep 487
    • Says confirms that on 11 February 2016 it received a payment of circa $154,000
    • Principal issue relates to an rls claim of its right to be operator of ep487 from 1 January 2016
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