la bella formal farm-out negotiations opened, page-9

If you were WHN management and the farmout for the seychelles process has fizzled out due to 2d being insufficient, would you:

1) Make a price sensitive announcement indicating the farm out failed and until the company achieves steady revenue from its other assets, no decision to aquire 3d seismic which will cost $ will be taken until such a time as 2014 ?

2) Continually drop hints in quarterlies and other announcements on side projects that the focus has changed and it is a long term prospect and that the company will not participate in a JV that does not increase shareholder value, insteading focusing on making Palta profitable sooner ?

So can management be blamed for not taking option 1 ? , what would it do to the share price ?, Option 2 perhaps ensures damage control and a stable SP with the focus now shifted to 'long term'. Management did what they had to do, except they should have listened when everyone else banged on about 2d being a waste of money.