is this the key for annoucment delays

Have been doing some research on the court action regarding the 25% claim by the agreaved party on the PB lease that GGP now owns.

While GGP has announced it is confident that the option or right to 25% of the lease does not transfer from AKW to them I suggest all shareholders read the AKW announcement of 24/3/10

In that announcement AKW states that a potential operater of the lease could have `buy back rights of 25% IF THE PB ASSETS HAD PROVED PROFITABLE (NET) WITHIN 2 YEARS.
They way I read that is that the option would be worthless no matter who owns the lease and who is operating the lease if a net profit has not being achieved within a 2 year period from the date of signing the agreement. This agreement was signed prior to the AKW announcement of 24/3/10

So on my reading it says if net profit on the lease after expenses by 24/3/12 is not achieved then the option would lapse.

So by delaying production (#6 has been shut in for 8 weeks)
and recently increasing expenses (fraccing both #9 wells and studding 1st horizontal) the claimant would not meet the profitability requirement.
THEFORE THE OPTION WOULD LAPSE AND ALSO THE CLAIM FOR 25% OF THE LEASE.

Interesting to me now is that I have noted prior to posters here that the 4 days of production from #6 of 1200 barrells did not have its income included in the Decemeber quarter report. It appeared to be in storage. Now I think I have found the reason why.

Still this is not investment advice. Do your own research and start by reading the AKW announcement. Sorry Not up with the technology to post it within this post.

If I am correct it could be a slow time for announcements until 24/3/12 but be great for the long term value.