time for an opinion from management, page-7

http://www.oilbasins.com.au/OBL-%20Oil%20Basins_UPDATE_Sept%202012.pdf

I like this:
Finally, we note the acquisition of 3 tenement’s by Buru
Energy (indirect 90% interest in EP457 and EP458 via
acquiring all of the shares in Gujarat NRE Oil Limited
(“GNOL”) for $36 million cash, and the right to a 50%
interest in the permit to be issued in respect of
application area 5/07-8EP, from Backreef Oil Limited,
for a total consideration of $3.5 million in cash (on
Grant in late 2012). Whilst none of OBL’s rights are
impacted by this conditional deal, 5/07-8EP is expected
to be a key value driver in 2013.

Also this:
Drilling at East Blina-1 in October should spark market
interest in the stock.

The untested USG/USO potential of the Backreef Area (below 1800m) is considered to be very good and
has likely been considerably enhanced by nearby recent results Buru operated Paradise and Valhalla
appraisal drilling. This is extremely important to OBL (and GRK) as it strongly suggests a shallow oil play
exists within the Backreef Area over L6 and EP129, with independently mapped volumes of 48-117mm
bbls in place – with some 20.6mm bbls risked recoverable prospective 2P resources.

Should get more interesting in the coming weeks, does the market value it at 7c 'risked' or 12c high side 'risked'?