Interesting that OBL are rolling the dice with PRL 047, they...

Interesting that OBL are rolling the dice with PRL 047, they have sole responsibility for a well to be drilled in the next twelve months now. They will need to do a farm out quick smart as there is no way they can raise $30 to $40mto drill the well. What chance of a deal? Not much I'd say.

Presumably OXX will complete the Derby block deal as soon as the Warden decision is sorted. OBL are only capped at $6.5m but the market has thoroughly had it with their mgt (in my opinion). I wouldn't be surprised if OBL sold out, they really need to be playing one end of the court or the other and if they wanted it to be the Derby block, they would have bailed on PRL 047 (wouldn't they).