I have been seriously thinking of buying into REY for no reason...

I have been seriously thinking of buying into REY for no reason other than the cheap entry into their highly prospective petroleum tenements. But this latest revelation from REY management that it is -

"Reviewing its intentions in respect of its interest in the leases" -

seems to me to be an ominous sign that the company is looking to sell out to the highest bidder.

I could be wrong but why else would they even be thinking like this given the high prospectivity and Buru's success.

In 2011 they clearly stated "REY will retain 10% interest."

So what has happened since to cause them to review their intention? Has one of the majors made them an offer they can't refuse as part of a bigger farm in deal with Gujarat?

I will continue to watch this play with interest, but I am primed and ready to hit the buy button if management don't do anything silly.