Lifesgood , You would think Oil Basin's have preemptive rights ....

Lifesgood ,

You would think Oil Basin's have preemptive rights .

Looks like Backreef have just established the price - a reduction of the price they quoted Buru .
The reduced price probably reflects the reduction in interest that a judge might impose as a penalty for non-participation in expenditure .

I can't believe this could go through but anything is possible .

If it did go through presumably OBL and OXX would each be left with 25% which would be a travesty .

Is this just desperation on the part of Backreef or is it personal - they don't want to sell to OBL or that Neil is so confident that they won't have to pay anything for it ?