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BRIEF-Oil Basins updates on legal proceedings

Published 15/02/2016, 10:54 am
© Reuters.  BRIEF-Oil Basins updates on legal proceedings
EMP
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Feb 15 (Reuters) - Oil Basins Ltd OBL.AX :

* Legal proceedings & derby block update OBL.AX

* 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

* Source text for Eikon ID:nASX9rLcsN

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