In light of the BRU announcement re the proposed acquisition of 50% of the "Derby Block" from Backreef Oil Pty Ltd, I would have thought it prudent for OBL management to make a formal statement by now.
Whilst I appreciate there may well be no legal requirement for OBL to make a statement to the market, as a share holder I would have thought a move of this caliber by BRU would have deserved recognition by OBL management by way of a statement.
As with many here, my primary interest in OBL is the Derby Block. Many here have also stated their opinion as to if this move will be positive or negative for OBL. I appreciate the opinions of all posters, however in this instance it is the opinion of management that matters most to my investment.
If Backreef Oil Ptd Ltd had their 50% stake up for sale - did OBL know about it? Did we have first right of refusal? If we did not know about the sale then that raises more questions. If we did know about the sale then did OBL management choose not to buy, or were they outbid?
Despite many posters on here with views to the contrary, I have always had faith in our management, their direction for OBL, and the way they have executed their strategy. I retain my faith in management but feel we need to know how this BRU deal 'sits' with OBL now and into the immediate future.
With our AGM early next month I feel it is important we hear an opinion from management before the meeting.
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- time for an opinion from management
time for an opinion from management
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