update, page-11

Is it the Directors, or is it the NT applicants 'running the company into the ground?'

Not saying I am happy with the current sp, or the delay in hearing the NT applicant's claim but that is what happens when lawyers get involved.

I look around the small caps and my watchlist - and just about everywhere, companies are down 20 percent to 90 per cent on their values of 12 to 24 months ago. BRU is a good example - it was at $3.40 (or there abouts) in June/July 12 and now is less than half that.

EEG (one I did sell out of) was 31 cents last year and is around 9 cents today. All due to a similar issue - the New York 'anti-fracking' protests and a NY Governor unable to make a decision either way. So once again, politics trumps commonsense, despite Obama's claim of supporting oil exploration.

Look at the performances of say, LYC; IAU or SDL. All are suffering form political interference, in one form or another. Their share prices have been decimated from a couple of years ago.

At least with OBL, we have the WA Govt all for development.
The Federal Govt is a whole different matter and it may be that the lawyers for the applicant, are funded by a Federal Govt agency?

I won't even get into the actions of Brokers. Suffice to say that last Friday, one company I have shares in, had a sell order go through for 1.1 cent, at 4.10.15 on Friday afternoon, just to make sure the sp did not rise. Ethical behaviour? I don't think so.

For OBL, this would be a good time to pull out a sale, or farm in for Cyrano. Directors need to come up with some way to save money and make it through til end of July and the NT final judgement (we hope). Also, what is happening with the 'Backreef Oil' ownership issue?? Some feedback from the company would be helpful.

All of the above is my personal opinion. DYOR.