Ann: TDO Investor Presentation, page-10

You are wishful thinker that some newbie is going to make big buck, that won't happen.
The is a very capital intense industry which TDO got no money to prove the "probable" in the ground, it is not a proven asset, so is worth very little or nothing.
With the market cap of just over $10 m, the CR if go head will probably raise enough money to pay for the float for the rig , nothing else.
Any deal if eventuate, will heavily dilute Noel big holding in TDO, which he reluctant to give up, and therefore no deal.
No one is going to stump up big dollar say $30 m to progress this venture i.e drilling in return for small share or even big share in TDO, there is no guarantee of success with big outlay.
The probability of a risk taker buy out of TDO for a song and retain 100 % ownership is more likely scenario than the management striking any deal to progress TDO to the next stage IMO.