the train has left the station

1st stop. The train left when native title was awarded.
2nd stop. Tell the world what is going on. Govt knows what OBL's plans and intention. 62.5% obl and oxx and backreef or Bru 37.5%. Farmout to super majors.

Does backreef want to challenge this and pay for legals when they are going to lose? They are being offered the same amount of money(prorata).They can do a deal now with OBL for there remaining 37.5%.

Will Bru want to bother coming up with money and time and start a messy legal argument they will lose. Is it worth bru ending up with a minority stake under 50% when 2 parties connected at the hips hold the majority vote in the joint venture? FMG probably walked away because OBL would not give them control. The smart thing for Bru is to walk away also. Bru probably thought OBL need them and they could gain control. Sorry but OBL do not need them to control but would welcome them to have a minority stake. Then farm out to a super major. This would not of been part of BRU business plan. Bru should walk away and if you want the derby block, and a monopoly then take over OBL. A super major will have control and no monopoly and competition.

I would be pretty nervous at backreef because if bru walk they owe monies and no support. The offer obl are making starts to look attractive. An applicant would need to prove to govt they are worthy? Doing deals that are legally wrong and not paying your way. Not good. If I was govt I would not grant a permit to backreef. If I were govt, I would grant 100% to Obl.

Brilliant Obl have a plan. Done all the work and are serious operators that have acted legally with a serious plan and budget which includes super majors. The govt must be impressed.

Well done Obl management you have not sold the farm and you have protected our best asset and ensured a premium needs to be paid on the obl share price if others want the asset. Salaries are worth every cent.

Guess what? The train has left the station but it may be to late to jump on very soon.