I googled for the latest news on 'oil basins ltd and kimberley land council'. The latest that came up was dated 6th Sept 12. Native Titles Office is closed for the Christmas - New Year break, according to their website. Anyway, either google as above, or try this:
In a nutshell, if you want to save yourselves the headache of reading through 'judge speak and lawyer speak' :
Burden of Proof for the allegation of 'not acting in good faith' is on the KLC.
Standard of proof is the civil standard of 'on the balance of probabilities'
CONCLUSION "For the reasons set out above, I find that the arguments advanced by the native title party in support of it's allegation that the grantee parties have failed to negotiate in good faith have NOT (my capital letters) been made out".
DECISION "(53) The grantee parties have negotiated in good faith with the native title party as required by S 31 (1) of the 'Native Title Act 1993' and the tribunal has power to conduct an inquiry and make a determination" DATED: 6th September 2012
I am no lawyer but if anyone on here is, feel free to give your opinions. 'Grantee' is Oil Basins. In my personal opinion, things are proceeding OK as far as this decision goes. I guess we just have to wait for the wheels of justice to be oiled (pun intended.
All of the above is my personal opinion only, on information obtained from the above mentioned native title tribunal decision dated 6th Sept 12. It is not investment advice of any kind. As always, DYOR. PS, apology in advance if this decision has been posted previously.
OBL Price at posting:
3.6¢ Sentiment: LT Buy Disclosure: Held
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