our market has lost the plot, page-23

Skyrocketer, please don't go out of your way to create confusion mate. It's completely unnecessary. Picking a single date out of the entire announcement and quoting it out of context isnt clever.

Not sure they could have written the announcement any clearer but since some will seek out ambiguity in anything lets summarise what they actual said:

a) $10,000,000 deposit has been received from the buyer as per agreement.

b) Completion of the existing deal still planned for September 6th.

c)There is no longer a need to create the exploratory unit.

d) County has provided 12 month extension to all leases associated with the old exploratory unit requirement.

e) SSN now has approved applications for wells on 3 or the 4 leases, with the 4th application pending.

f) They have now got an indicative settlement timeframe for the post closing settlement of the small number of leases previously associated with the exploratory unit. That should occur in December.

Also:

g) Rodney drilling almost at target depth
h) Rodney returned oil and gas shows
i) Rodney to begin frac stimulation on 23rd August
j) Gary drilled and cased
k) Gary to begin frac stimulation on 23rd / 30th August (depending on which paragraph you use)


All much better news that could reasonably have been expected today. Buy, sell, do what you want with the information but dont change the context of what they said.