Regulations getting close, page-8

I think their plan would be to negotiate a farmin with a big company as soon as the permits are formally issued. The farminee would then want a say on the way forward and would be expected to make a major contribution to costs Including seismic and well costs.
The farmin will likely happen fairly soon when the permits are issued, and will be the first major boost to CEL's value. The next real high impact value driver will be next year when the first well is drilled and tested. It is also worth considering that there will be sweet spots on the permits that may contain conventional oil and gas and will not need fraccing.
We will just have to be patient with this one.