My understanding was when Bru did the deal with Kimberley Oil now Fitzroy River is was a gross 2% royalty.
The problem is that the previous Fitzroy directors didn't look closely at what Bru was paying them, ie a net royalty...stupid them.
But a precedent been set by Bru and now Fitzroy has to stand up in court and say they made a mistake and Bru own them more money..
Making the Fitzroy boys look stupid again and not credible.
This will run for years and lawyers will be buying more of the western suburbs of Perth.
My understanding was when Bru did the deal with Kimberley Oil...
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