Hah yes they certainly did.I agree with your Gogo assessment,...

Hah yes they certainly did.

I agree with your Gogo assessment, it's certainly prospective. I just think it might get relegated to a side project depending on Derby because Derby is much further along the path to being "proved".

Yes the Derby block is full of the Laurel BCGA, which is a separate thing to the Ungani conventional trend. I am likely to become a holder again due to their leverage to this. There will certainly be condensate (from indications thus far) but as for conventional oil we'll have to wait for seismic and then drilling to work out how prospective their block is for it. I'm sure there is some *somewhere* on the block and they should definitely be using the any possible unconventional drill to test conventional prospects where it makes geological sense, but it's not like REY where Buru knew the conventional trend went right into their blocks. Derby is a separate thing and can really only be treated as a Laurel play until such time as conventional may or may not be found by accident or otherwise. The drilling campaign might be purely unconventional with no regard to any juicier oil targets that pop up on seismic.

To me the main things with OBL are: What happens legally to the ownership of Derby.. What is the final makeup of interests and probably most importantly what are the results of Buru's Laurel tests mid next year.

If the Buru results are good I will likely get back in depending on price action. Obviously it will move on good results and some profits will be missed locally on OBL by coming in after positive announcements but I'll be making them on Buru and CFDs no doubt so not actually missed overall. There should however be a lag component that means there will still be enough profit to be made there. Then it also depends on the corporate stuff, have the interests been finalised, how much does OBL end up with, is it enough leverage vs other options, will there be a farm out to look forward to or will it have already happened etc etc. It probably won't be a long hold because reality as to the time it will take to develop will set in and it will eventually drop but there will be a swing back up once active drilling starts to take place again. Basically there are so many unknowns there is a rough plan if enough leverage is on offer but it's basically keep your ear to the ground and wait and see what happens for me from here.