no announcement anytime soon, page-13

Just need to point out here that OBL won't be doing any kind of exploration at all until there is a farm in of some kind.

Nothing will be able to be done until the dry season now, that means admin costs of at least $300k until then.

Seismic will cost around $3M and an unconventional well will cost around $10M. A lot of people here think OBL will win outright against backreef giving them 75%, that means even with the $1.75M from OXX they don't even have enough for seismic ($2.25M) let alone drilling. If Backreef wins outright and they end up with 37.5% (if OXX still farms into their 50%) that's still $1.4M for seismic and admin costs leaving them with fumes. No drilling is happening without a farm in unless maybe OBL drop their fight with Backreef in return for being freecarried through a drill or something. OBL have been pretty forward about searching for a farm in of some kind, they've NEVER said they'd explore on their own, they simply can't, so I don't know why you're talking about it now.