In Obl's quarterly they mentioned the court had awarded bas to pay obl's costs.
Why is this? It is because directors did not do the placement properly in accordance with ASIC, asx and the company constitution.
BAS raised 1.1 million and diluted the company and issued options. Half of the money raised is probably waisted on legal fees. What a debacle. By acting too quick and trying to control the board.
They need to be made accountable. Vote for obl directors to keep them honest.
At the agm ask them how much was legal costs and have they spent the money on 3d seismic as promised.
Obl just got support from a 12 billion dollar company (fortescue). The share price jumped 40%. Maybe, obl directors can do something similar for BAS.
BAS Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
