RE: financing***"and why after all of this time they still haven't drilled and have no intention to do this year..."***
My understanding is that they moved up materials for 2 separate 16-man camps, 2 drills and will indeed have two teams drilling this season on a $5 million budget. 7 different prospective targets that I know of, at each end of the play, probably others.
FWIW, that came from Gordon Friesen in January.
It's all moose pasture until a drill cuts something interesting. This one is a gamble on the drilling.
Put a little poker money on it (or not, as you wish) and check back when the results come in.
llccman