Ann: Quarterly Activities and Cashflow Report, page-33

The elephant in the room is the big fat incentive for management to drag their feet... salaries.

If aggressive drilling results in a majority of dusters then the big salaries come to an abrupt end (via difficulty in enticing future capital raises). And to compound matters, the significant director shareholding also plummets in value and JP is left with no job and a capital loss.

Therefore one must conclude it is in JP's best interests to approach this slow and steady - the salaries act (more or less) as a hedge for the directors initial investment.

As frustrated as I am with the slow going, I understand JP's (possible) mindset.

Retail spec life ain't easy.