The SAT is due approx. 27th and give or take a couple of days. Public holiday etc.
Also, good news that the district court action has been bought forward from March to the first week of February.
The question about Lind is that it is suspended and will probably be extended based on the last capital raising. The Lind facility is required to satisfy audit compliance, as there is line of credit of more than 4 million available.
An expected positive outcome from either action can see OBL with 100%. Then OXX need to pay OBL 1.75 million for 25% and back costs. With large oil and gas assets in the Derby block which have been sought after by FMG, BRU and REY, I see no issues farming it out. Management have told me on many occasions that they have had interest from farmin partners. However, the hurdle that has stopped a deal is certainty in ownership. This hurdle will be sorted in the next few weeks.
OBL Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
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