I just read your posting & think you are spot on. It would appear that the drilling is going well & they don't want to use up the land with infrastructure etc so the acquisition is very promising.
I also spoke to PJ a few weeks back & all was very positive. For obvious reasons he couldn't go into specifics, however he did mention they they are not interested in pumping & dumping (by releasing meaningless announcements) & are more focused on getting the job done which is very different to a lot of other players out there.
All is good.
RES Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held