News: OBL Oil Basins announces 9-For-5 pro-rata renounceable rights issue, page-7

You have definitively got the wrong end of the stick. The funds aren't for lining the board's pockets - that may have been a practice in the past (lifestyle company). The VIC government will NOT be shutting down offshore gas exploration at all.

The management of the company is not the old as I have mentioned. New - dynamic and not lining pockets.

You also need to read about the following - large companies involved in the same region - OBL's Judith asset is about due North of the Tuna gas field:

http://subseaworldnews.com/2017/08/07/cgg-to-reprocess-gippsland-basin-data/

http://www.offshore-mag.com/article...n-the-gippsland-basin-offshore-australia.html

Bass Strait, Australia

In 1965, we, along with our 50-50 joint venture partner and operator, Esso Australia (a subsidiary of ExxonMobil), through the Gippsland Basin joint venture, participated in the original discovery of hydrocarbons. We have produced oil and gas from the Bass Strait over the past 40 years. The Bass Strait operations are located between 25 and 80 kilometres off the southeastern coast of Australia. More recently, the Kipper gas field under the Kipper Unit Joint Venture (also operated by Esso Australia) has brought online additional gas and liquids production that are processed via the existing Gippsland Basin Joint Venture facilities.

Clearly a firm and significant appetite from word leading companies in exactly the same area!!

If you have any further questions, I will do my best to answer them