Feb 15 (Reuters) - Oil Basins Ltd (OBL) :
- Legal proceedings & derby block update (OBL)
- Says has been served with a summons filed in the supreme court of Western Australia dated 10 February 2016
- Says it is intended that the legal proceedings, which could take some time to be heard, will be solidly defended
- Says action has been brought by Rey Resources Limited
- Obl confirms that it has not resigned as operator of ep 487
- Says confirms that on 11 February 2016 it received a payment of circa $154,000
- Principal issue relates to an rls claim of its right to be operator of ep487 from 1 January 2016
