Where to from here? Look at what has happenned and what is about to happen.
Recent past 1. Pre FMG deal - OBL 3c market cap 15 million small turnover of shares 2. Post FMG deal - OBL 4c market cap 20 million large turnover of shares with profit takers selling to new shareholders. 3. Deal FMG 15/11 - Commitment of 24.95 million to be paid to OBL for 18% of OBL, 25% of derby block, Exploration expenditure and commitment on options. 4. Positive press for OBL and FMG. 5. Hotcopper buzz about OBL and what this deal means. 6. New shareholders jumping on board and many are FMG shareholders that are in for the long term.
What now? 1. FMG to sign contract in coming days ( fine print on deal being finalised). 2. Once signed research papers and analyst recommendations. 3. Insto's and broker clients to act on recommendations 4. A new base has been set at 4c with profit takers out. 5. Investorium webcast on Reuters nov26 6. AGM - 28 November
This deal with FMG gives existing shareholders and new shareholders confidence that downside risk is minimal and the upside potentially massive.
This deal and valuations have not been fully considered yet. Pipelines being paid for by the WA gov't and activity next door etc will also be reflected in valuations.
The early birds will reap the rewards. I bought more at 4c and some at 2.7c the other week to add to my large holding.
Very confident and very happy.
OBL Price at posting:
4.1¢ Sentiment: ST Buy Disclosure: Held
