If you sign a deal saying you'll hand over operatorship if you haven't done X by Y date, and then you don't do X by Y date and take the deal to court saying that they never deserved operatorship in the first place... Who's going to partner with a company like that? I wonder. Did they go into the deal knowing they weren't going to honor it and they were always going to pull this?
Anyways, looking forward to hearing any more specifics about Location 1 and 2.
If they could actually set up a farm in (they've had almost 2.5 extra months to do it) a lot of this stuff could be forgiven as a farm in, or the money to organise it is more important than petty squabbles right now. REY are trying to raise 163% of OBL's whole market cap (and probably more if there were more points between the buy and sell to get a more accurate current sentiment) after recently getting almost half it's cap in a private placement. To me, given REY have more of the Laurel and more capacity to fund things they should be given a shot as OBL have proven they're not able to move it forward by their inability to farm it out in however many years.
If OBL came out tomorrow with a farm in deal that completely changes. Sure it's rude as hell (and probably enforceably wrong legally) to welch on the deal but I don't think many shareholders would care as there would be a result and politically and potentially legally that would become bad for REY unless they matched it as it would be REY holding things up. On the flip side, if I was REY I'd be trying to organise a farm in contingent on them getting operatorship now to put pressure on OBL both with shareholders and legally. Having the money/farm in deal to operate it would go a long way to proving operatorship.
OBL Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
