North South,
I have it on fairly good authority that HIAL have already entered into negotiations with Argyll & Bute council over operating Oban, Coll and Colonsay. I think the negative reaction from the aviation community was completley ignored by all politicians involved.
Apparently there is £4.3 million of EU money earmarked for the project (for all 3 airfields).
Having flown into Oban a few times I cannot see how they could operate any form of regular service out of there unless they build a new runway at 90 degrees to the current one, to allow some kind of instrument approach.