Lifesgood I can do maths don't worry about that, I also do research and form my own decisions.
announcment dated the 4/2 On 24 January 2013, Octanex announced that, once the permit had been granted and various conditions precedent satisfied or waived, it had agreed to acquire a 25% interest in the Derby Block from OBL.
This to me reads this: OXX will not agree to the buy in until the permit of native title is granted "FORMALLY" - their 25%
This is backed by a statement released in announcement 6/2 ( 2 days ago if my maths are right)
Oil Basins Limited has advised Octanex N.L. (ASX code OXX) that, with the National Native Title Tribunal determination on 1 February 2013, OBL has successfully completed the first requirement of the farmin for a 25% interest in the Derby Block (after grant) to OXX as previously announced on 24 January 2013.
I'm happy to be corrected but these 2 statements tell me the deal is not done yet. We still own 50% until all requirements are met - what are the other requirements??
And now OBL are talking with blackreef anything can change including % ratios.
As far as my research goes, the deal is not DONE until after the formal GRANT of Native title. We still own 50%
OBL Price at posting:
2.6¢ Sentiment: LT Buy Disclosure: Held
