Ann: East Blina-1 - Operations Report No.3 , page-22

re: Ann: GRK: East Blina-1 - Operations Rep... I did a bit of digging over the week-end regarding OBL's ownership obligations of the "Backreef" area.

From page 6 of the Alpha securities report dated 30th March 2012........

http://www.oilbasins.com.au/Oil%20Basins%20Ltd%20-%20%2030%20March%202012.pdf

OBL acquired an initial 20% stake in the Backreef Area in February
2006, with the aim of focusing on the previously undrilled Kimberley
Downs Embayment. In October 2008, OBL moved to 80% rights and
earned 100% equity rights via drilling the Backreef-1 well. The company assumed ownership later, in 2010.

FWIW