suspension, page-31

Guidance on suspensions/extensions from the ASX site

Page 9

""In certain exceptional circumstances, ASX may agree to suspend quotation of an entity’s securities (or maintain
an existing suspension) not withstanding that the entity may be in a position to make an announcement about its
progress in an incomplete proposal or negotiation that reasonably informs the market as to the current status of
the proposal or negotiation.
The circumstances in which ASX will consider agreeing to this course of action will generally be limited to situations in which the entity is reasonably of the view, and ASX is satisfied, that reinstatement of trading in its securities is likely to be materially prejudicial to the entity’s ability to successfully complete a complex transaction that is, or series of interdependent transactions that are, critical to the entity’s
continued financial viability.""

http://www.asxgroup.com.au/media/PDFs/gn16_trading_halts.pdf

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OEL have already told the ASX 3 times that they expect to make an announcement by the end of the TH, then Suspension-1 and now Suspension-2
If its become a longer "negotiation", then OEL may have to relist prior to having an outcome, imo
Reason being that trading of its securities is not likely to affect their ability to close a deal, if I understand the above paragraph correctly.

I suppose a positive outcome is still possible too.....