Ann: Additional gas discovery in Lower Angwa Mukuyu-2, page-228

I think it is because it was below expectation, it was a slither of net pay in multiple zones (very hard to extract from one well, you need multiple wells for multiple zones), flow testing is now harder (its harder to flow test from slithers of net pay) and the basin may need many many wells making it possibly uneconomical, add to that the fact they will likely need to get a farm in before they see any capital loan funding, this farm in might take a large amount of percent ownership, and all the while, it is in the middle of nowhere, and just gas, no oil (a developing country would probably rather have oil than gas), and there are sovereign risks in a country such as this.

The scales are tipping, and unless the flow tests provide good results (which I highly doubt, especially considering they have so many problems with their well design e.g side tracks, tools stuck etc), than the share price might not appreciate.