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Ann: Derby Block (EP 487) Update, page-6

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  1. 17,248 Posts.
    lightbulb Created with Sketch. 52
    " Im no lawyer, but what makes you think that the abbott exploration case was the turning point?"
    Because its been alluded to twice, in announcements on HC.

    With thanks to Iona,



    " If this case improves OBL's chances significantly, then waiting is wonderful.

    I had it explained to me that the point is that Backreef Oil had contracted with Buru Energy to assign the Backreef Oil interest in the Derby Block together with agreeing provisions making Backreef Oil the total puppet of Buru Energy and holding the interest totally on trust for Buru - notwithstanding that OBL has always said that Backreef Oil had no right to do so. Therefore when Backreef Oil applied to the Minister to be put on title it was merely the undisclosed proxy and agent of Buru Energy who had not been scrutinised and approved, in subversion of the permitting structure and processes. It appears this Abbotts case shows those control provisions could be enforced by Buru Energy, notwithstanding the assignment itself was not valid as it was not approved and registered, and so it crystallises the OBL assertion that Backreef was not the true and proper applicant as required.

    Does anyone understand it better? If so please explain."

    http://hotcopper.com.au/threads/the-wait-is-nearly-over.2442017/page-9?post_id=14625296#.VMDcVy4VSSo

    Raider
 
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