OBL Conservative Valuation 6c and 12c, page-5

When OBL have ownership (if they get 75%) and seismic sorted they are unlikely to be $8m. When they get a farm out they are even less likely to be $8m. The 1.75M won't really go far, operating expenses including legals and seismic etc but maybe they have enough to last until farm out. If they're smart and lucky they might find a conventional oil target on the seismic they can test at the same time as the laurel. I would expect them to be mid 2's sometime early-mid next year IF things went their way..