The consolidation doesn't do anything at this stage. Typically its done post discovery if a company is looking to finance their portion of a development (to avoid looking like a penny stock). In this case I think you will either see a sale of the asset (assuming it becomes a large one) or if the sale is not progressed quick enough it will revert to a royalty but free carried from any costs.
Ann: Pancontinental Commences Extensive 3D Seismic Survey, page-89
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