We long suffering shareholders have speculated as to why there is yet no deal for the funding of drilling. It is certainly not for lack of potential nor for lack of an attractive target. Nor because of an environment where deals aren't being made. They are being made- and drilling commencing- literally in our back yard. 

The best possibility is that BG is working diligently on our behalf and that negotiations are in progress and it is just  taking a while to hammer out the details for the best possible deal. Hopefully so and maybe- but there are good reasons to be skeptical.

Other possibilities include that BG is just too distracted, busy with his day job, or just not interested in bothering. 

Other, more nefarious possibilities include the possibility of the need to postpone any deal until it is most advantagious to BG personally- after gaining complete possession of the company either through bankruptcy proceedings or by taking the company private. He has already taken full control of the company, leaving regular- non-BOD shareholders no say.

But what if there is another path to making money at other shareholders expense? One might speculate that he might have a vested interest in the PPS going lower. In that case, the last thing one would want to do would be to announce a deal- causing the PPS to skyrocket upward. He has already taken an otherwise inexplicable action to predictably lower the PPS- namely unilaterally declaring an extraordinary 500:1 RS without any supporting news. Every knowlegeable observer would have predicted the result with which we are now living- vastly lowered share values. This seems to  have been knowingly done, unless one were completely clueless (which one may need to allow might be possible). So why? One must ask the question as to whether there was some benefit to intentionally lowering the PPS. Again- I don't know the answer. But posing the question.