"The Directors of Oil Basins Limited (OBL) wish to make the following ASX announcement to keep the market fully informed.
Further to the recent OBL ASX Release dated 25 June 2014, we wish to advise that the WA State Administrative Tribunal (SAT) has listed the application by OBL to SAT under Section 82(1)(c) of the Petroleum and Geothermal Energy Resources Act 1967 for a Directions Hearing on 22 July 2014 to establish procedures for dealing with the matter. The application is seeking an order of SAT: That the Minister for Mines and Petroleum shall amend the Register by removing all references to the Respondent [Backreef Oil Pty Limited] as a registered titleholder of Petroleum Exploration Permit EP 487.
If the application is successful, this would mean that only OBL would remain on the title.
OBL will make further announcements and updates as appropriate."
Excellent! By that time also the green light for BRU for fracking by the LO will be available.
From there up and away. IMO.
The long wait will be over.
OBL Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
