Ann: Invictus Receives Non-Binding Farm-In Offer, page-27

These concerns are real. It is one of the more nothing announcements to have ever been made. The update re the PSA is basically where it has been at for the last month or so (i.e still waiting on someone to actually sign off on it). Not naming who the farm out partner is also rings serious alarm bells. This feels like an attempt to placate shareholders over the low volume period about to hit and a feeble attempt at justifying their performance rights. They have now taken all the wind out of the sails of a "real" PSA and farm-out announcement.