Ann: Derby Block Update , page-2

Well it looks as if OBL playing hard ball and also varying the deal with Backreef as well as disagreeing to the Backreef sale to Bru.

My understanding is that Backreef has control of 50% of the new permit.

Hence the percentages should be

OBL 25%
OXX 25%
Backreef 50%.

Now OBL saying that the deal with OXX should be out of the whole pie rather than just 50% that OBL still had rights to.

Hence the new split

OBL 37.5%
OXX 25%
Backreef 37.5%

Now a sure that Eric has done the deal know that Backreef is able to sell it interest in the Derby block, he not stupid.

So what happens now

1, Lawyer get richer

2, The new EP is tied up for years in litigation

3, No exploration on the land and OBL shareholder continue to see no action.

A poor result for OBL shareholders