Boz, yes it was, I think at the time that they were looking to...

Boz, yes it was,

I think at the time that they were looking to some type of Lind agreement to secure funding. Funding was a key requirement of the DMP because they weren't going to approve a permit to an entity that wouldn't have the funds to do anything with it. They had already received funding from overseas (asia) however they needed something a bit more sustainable and long term.

This is the thing, OBL have proven that they can fund the block. I'm sure there have been some confidential discussions as to how (other than lind) where the money is coming from and the DMP are happy to move forward. As I have said previously Albers is a strategic partner for a reason. He is already down 400k on his investment post the FMG debacle, and yet he hasn't walked away from the deal with OBL at all. He knows the potential which is why the 1.75 will come. If not I am sure there are other takers reading to step up. Remember Albers came to their rescue post FMG and along with the SPP was enough to keep the company going whilst the legal bit was going on. So I think he will be rewarded there.

We are now moving on, the Lind deal obviously looks terrible at the moment but as Neil says it is allowing them to move ahead with the project. If there wasn't any funding then there would be no permit and no Derby for OBL.

Regarding the behaviour of BOPL, they have no money and really no option, you don't see any funding deals coming their way. OBL are in a very strong position from a legal perspective and BRU have enough on their plate at the moment to challenge anything, especially given their gripe isn't with OBL.

I would like to see something like this play out, BOPL be stripped of their 50% by the DMP ( because they are unable to fund their part of the block) the rest given to OBL who will have 70%. They then farm out half of which will fund their obligation to the Derby block. A super major comes into the picture and buys out OBL for a good chunk and the company is free carried. The funds from that is moved onto the Gippsland projects for development. This is a 5 year plus plan, but the potential returns are very encouraging.

I honestly think that a re-rating will occur. Timeframe is hard to be specific. This has been hard fought battle and there has been some dirty tricks used along the way. Management know that have a significant asset, which is why In my opinion there is a lot more to play out.

So will the company be 10c by the end of the year. Possibly, will it be north of 1c Well I am literally putting my money where my mouth is.