Bargearse and Bhutos, I can only hope that any holders of OBL at...

Bargearse and Bhutos, I can only hope that any holders of OBL at the least take your sane views onboard.

OBL is in a tough situation to say the least. As Semi-operator of the Derby block, the relations they have with the native title groups is extremely important. Clearly due to the drawn out process relations between them are to the point where they may never come to an agreement. I realise the court case is ongoing and that some think that once the ruling is made, happy days... please, pop the bubble, whoever is working on the Derby block still needs to have a fair and respectful working relationship with all the Native title holders.

As far as I can tell, that may not ever occur whilst OBL is involved. Surely holders realize, that as some posters have stated, seismic needs to occur, then processing, at best the seismic will be 2D initially, which, due to the costs associated with drilling in the Canning, should not occur without 3D seismic (BRU got lucky with Ungani).

At the very earliest, a 2D seismic based well might be drillable by late 2014, but as I mentioned above, very risky. Just look at the failed Backreef wells... What a waste of money.

I know this is not what holders want to hear on the threads, but reality needs to be acknowledged. IMO, the best possible outcome would be a takeover, which I just dont think will happen. Their percentage of the Derby block will be so low by the time a well ever gets drilled it just wont be worth it.

Newregime - I think you post includes financial advice, so perhaps you should request it removed?
And for the life of me, "OBL can ask top dollar because farmins/buyers are lining up..." Seriously!???? There is no line, in fact not even a sign to advise parties where to line up.

Good luck to holders who have stuck it out since the IPO.