Chilli, this is a prime example of how much work time and...

Chilli, this is a prime example of how much work time and resources go into acquiring acreage, permits etc. by BRK/BM and for that matter every O&G company operating in the US.

As the rights to the oil and gas on tracts of land and DSU do not only extend to the surface land owner there can be many hundreds of mineral and lease rights owners. In a time consuming process landmen and solicitors must endeavour to make contact with all of these people, some of which have rights passed via generations, trusts, wills etc...hard to find and some are not even aware the great uncle Joe passed them on....

Given that the financial stakes are high in both cost and returns it is necessary at times to cover via legal proceedings all avenues and parties (USA is a litigious country btw) some will and some won't agree.

This all occurs on a frequent basis, as I mentioned before some deals will be made at the farmhouse kitchen table and others need to be resolved in the courts. All end up in the courts with pooling and forced pooling to create a DSU.

Is there a need to update the market when such events happen? I think not as it is part of the day to day business, imagine weekly updates of court attendances and or land and leasing trading like cards trying to get the full deck (DSU)
The cost of announcements and time doesn't stack up to make them.

Fortunately for us we have the David Prentice led BRK and BM team working on these issues continually, including the contractual and timing arrangements to deliver what some see only a drilling program. We need much more than a project manager

As mentioned all standard practice and procedure, is it the cause of the current SP...unlikely IMO not forgetting that O&G is not a risk free investment.

Looking forward to Dan's analysis a little later. Will spell it out much clearer than me.

Keep well cheers Paul