Fair question parkerkeith, I post on OBL because I follow all...

Fair question parkerkeith, I post on OBL because I follow all the Canning Basin stocks (and yes, I have stated many times, I own BRU shares). OBL is the most speculative in the Canning due largely to its tiny Market cap, almost non-existence cash balance and uninspiring management track record that have, IMO, not increased the value of the company in over 6 years (just for interests sake, the IPO valued the company at $10.5 million.. just shy of the current MC).

Many dislike my posts, I realise that, but I post only to try and balance views that are over the top positive on a stock that, as every positive post like to point out, the Derby block is its most valuable asset. Well, from the BRU transaction, their 25% holding (after the farmout) is worth around $1.75 million. That's it. That is current market value.

All its other assets may be worth something, but unless someone buys them, they will continue to do nothing to assist with rewarding shareholders.

parkerkeith, you are most welcome to your view that OBL could do well, I am happy to discuss why you think OBL offers investors a realistic chance at good returns.
I usually find the majority of the posts on OBL threads go along the line of 'OBL is great', but never any real detail.

Fitza - no where have I denied the potential of the Derby block. But the facts are, 2D/3D will need to be done before any well is drilled, that will not occur over the wet season. Then, assuming OBL/Native title groups can actually work together, OBL will have to find the funds to pay for a well, which, as you mention, would probably focus on the GoGo formation, at best, it will require fraccing to get anywhere close to commercial flow rates, which, at best, would cost around $15 million for 1 well. Even if commercial rates are achieved, further wells will be required to further prove up the resource to allow any chance of a actual GSA (Gas Sales Agreement).

I would be very interested in the facts you state are available... Even BRU does not know if the Valhalla BCGA is actually going to be economic.

Good luck to the longs. Patience has indeed been required.