I've been thinking about this, and in particular how LRS could get a rig on to the site without disclosing to the market it had an agreement to do so. Would require some clever maneuvering. Also, if it was us that put the rig into place, why so close to Fog's Block and not further along the corridor to see if the trend continues? Alternatively, if you don't have LRS's expertise and geology knowledge, but you do know LRS has which has had some success has a few drill rigs on the block next door, you might be tempted to get close as possible to all the activitiy. It doesn't mean LRS is not still in the frame to get rights to that area, but my bet is that LRS was not in control of that pilot rig. I also assume all potential suitors will have to wait until those drill assays are available to the mystery party before a deal can be done...otherwise why do the drilling in the first place.
LRS Price at posting:
38.3¢ Sentiment: Buy Disclosure: Held
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