I agree with your view here, I would have thought there was a lot of negotiations behind the scenes while the bureaucratic process played out. While I did not think there was going to be an avalanche of deals come to market the day after the announcement came out, I would expect there to be something in the short to mid term horizon (1-3 months). Perhaps the last paragraph of the announcement provides some guidance:
"The Company has a month to formally respond to the Offer and will advise shareholders of all progress including the outcome of any commercial and legal challenge with Backreef Oil Pty Ltd (refer to ASX Release dated 6 February 2013) as to farminees."
I don't profess a deep understanding of the commercial and historical implications of any negotiations, but I will be keen to see the next round of announcements from OBL and assess from there.
Been holding for a fair while now, so like many (everyone?!) I am keen to see value for my investment and support of OBL.
OBL Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
