No hope for BRU, page-24

Intercompany politics at play. BRU are on the hook at Derby block for the production royalty if it starts producing. The more it produces, the bigger the problem to BRU and the bigger contingent liability in their books. If BRU own the block, the liability just becomes a production cost and it no longer declared. BRU will try and buy OBL (or the Derby block) but Albers is three steps ahead. The OXX deal is the key to all this, I expect OXX will end up with 50% as GA likes control. They will then farm out to big oil and BRU will be in a bad place. Hell of a bad strategic decision to end up liable for production royalty on an asset you don't control. All just my opinion of course.