I especially liked this:"From our data set we know that we are...

I especially liked this:

"From our data set we know that we are ready to do pilot production wells and we are looking for investment in the vicinity of $50 MM to move ahead with this," he said.

Sounds to me that they know exactly what its worth, and will not willing to accept a low ball offer just because they are minnows. It may explain why a deal is taking a while. Because of low cash burn and high cash, they have the luxury of waiting for the right deal (unlike many minnows).

AQO is my favourite stock at the moment.