THIS IS ONLY MY OPINION.Terrace Energy acquires acreage in...

THIS IS ONLY MY OPINION.

Terrace Energy acquires acreage in Texas:
Published Nov 21, 2011
Terrace has acquired interests in several oil development projects in Texas.

Cutlass Project The Company's newly incorporated wholly owned subsidiary, Terrace Cutlass LLC (Terrace), has entered into an agreement with Lightning Oil Company, of San Antonio Texas (Lightning), under which Terrace was granted the right to earn an 18.75% net revenue interest (NRI) in certain oil, gas and mineral leases covering 3,395 net acres in the Dimmit and LaSalle Counties, Texas.

Read full article here http://www.scandoil.com/moxie-bm2/news/terrace-energy-acquires-acreage-in-texas.shtml

Also:
Terrace Energy Corp. Provides Operational Update
Apr 10 12
Cutlass - Eagle Ford Project: construction work on the access road, drilling pad and water supply well for the initial test well on the company's Cutlass Project in Dimmit County, Texas (the Initial Well) is nearing completion. The operator has contracted a rig for a two-well program to test each of its West lease in Dimmit County and its East lease in LaSalle County. The drill program is intended to target the Eagle Ford formation. The company has advanced just over $2.1 million to the operator to meet its financial commitment to drill the Initial Well. Project initiation is expected late this month, as soon as the rig is released from its current drilling commitment. It is expected that the drilling of the second well will commence once drilling of the Initial Well is completed. The company owns a 30% working interest and 22.5% net revenue interest in the Cutlass Project, which is completely surrounded by property under lease to Anadarko Petroleum whereon it is actively developing the Eagle Ford formation. The Cutlass Project has the potential to support up to 28 drilling locations targeting the Eagle Ford formation as well as the potential to develop additional cretaceous horizons productive in the region.

Here is the Permit:
Submitted 02/20/2012 Approved 03/29/2012 734269 127-34592 LIGHTNING OIL COMPANY (500600) CUTLASS WEST A 1 01 DIMMIT Horizontal New Drill - 9200 Approved

Well will spud on the 26/4/2012 Pioneer is the driller and Lightning Oil Company is the operator.My only question is why not just release this information earlier?