RE:march 31 loomsi think that they will do something with the properties, something just to keep things going until things get better. They still could do a joint venture on their non-conventional acreage with a major, perhaps this is likely than the other deal.
Keep in mind that the Company can be sold for its tax loss status for $0.05/Share, so that is the downside. The stock is trading at $0.015 at this time, so there is still time to make a small profit.