Ann: Investor Presentation January 2013 , page-4

That is not accurate.The Quarterly says:

Aggressive Exploration Programmes Underway
Wolf has planned aggressive exploration programmes in order to complete 2 1/2 year contract commitments is 1 year and commence the initial drilling in 2013.
- that is on the SB block they got the PSC signed for this month
- they also state their plans to drill on the BU block this year

I also note that they have a track record of delivering contract requirements ahead of schedule and that's why they won the Operator of the Year award in 2011.

I regard your post as intentionally talking down a stock.