Ann: Derby Block Update & Backreef Oil, page-47

So you've read it at least twice now without understanding.
Interesting.
Read it a third time. Concentrate on the two words "first year" and report back to us what you think that means in the context of a junior oil explorer and why it has nothing to do with one drill let alone two...
If Albers hasn't had one put over on him, how come he didn't announce he was up for another mill in the deal at the time? Sorry, why didn't he announce "it appears" he might be up for seismic?
If the farm in is binding nothing "appears" to be, it just is and its announced. OBL will turn a teacup of oil into a discovery but they won't announce they've got someone on the hook for another mill or so for seismic???? That would be a first, not trumpeting the benefits of a deal.
I'll admit OXX is a holder and that makes them less likely to get into court although given it's all they seem to do with third parties I don't feel bad for being so suspicious of them with them apparantly admitting that it "appears" they don't seem to know exactly what's going on and not adding potential terms to farm out announcements. You'll have to forgive me but unnannounced terms are EXACTLY the thing OBL, BRU , REY, BOPL have all been in front of lawyers about.