I think that was before M1 was drilled,before the expanded area...

I think that was before M1 was drilled,
before the expanded area was signed over to Invictus,
before the carbon offset project,
before 2D seismic was done in the east,
before M2 was drilled,
before they brought a sample to the surface and declared a discovery.

In one of the fireside chats Scott used the term 'tyre kicking', I think he was subtly talking about this deal/offer.

I googled 'tyre kicking':
'In sales, a tire kicker is a prospect who appears interested in buying a product or service but never actually commits.
They often prolong the sales process by asking questions and raising objections until the sale sputters out.'