I think you are on the ball Raider. BRU makes a bulls*^?...

I think you are on the ball Raider. BRU makes a bulls*^? announcement that they are picking up 50% of Derby on the proviso they r the operator. No chance but lets colour in our maps and increase our reserves by 20%.

OBL have done all the hard yards and if anyone thinks they can pick up Derby cheap they have got another thing coming. OXX have been loyal and smart. Anyone who wants to takeover OBL may have a chance, but OBL has had the backing from loyal shareholders and support from Lind. Compare how much it takes to run BRU to OBL (25 million to 1.6 million). Don't worry OBL is operator, has the backing, and have the expertise to take this all the way to realise the Derby's Blocks full potential. Admittedly the road has been hard including oil price, WA red tape is crazy and has cost BRU and OBL heaps. The jewel in the crown is Derby, Gas, Gippsland, Gas and LNG.

Get real OBL is a no brainer. Market cap 4.6 Million. DYOR.

IMHO Chances of winning 100% of Derby is about 80%. OBL then sells 25% to OXX for $1.75 Million. Immediate increase in market cap to 10 million plus. Not a bad punt. Timeline 4 - 5 weeks.

Worst case scenario OBL get back costs for 50% $491K owed by BOPL and further outstanding calls. Lets say OBL get $1.75 million from OXX which includes BOPL cash calls and OBL's 12.5%. Then OBL gets 37.5% and keeps operatorship, BOPL 37.5% (peanut freeloader trying to make bull s%&? deals with BRU and REY), and OXX 25%. OBL will still go up. Could not go below 4.6 million market cap.

BOPL has a 50% liability of all costs. If you do not pay, YOU LOSE!!!!!!!!!