ambassador's $50m cooper deal , page-8

I don't think we will need to wait that long.

Reading between the lines, I think they were approached with a near-final offer and went into Trading Halt a little early to prevent speculation (and insider trading). I am guessing some of the details, on further discussion, turned out not to be fully resolved (i.e. finance for purchasing unexercised options, and formalization of Magnum Hunter's involvement in new company).

But these things should come through sooner rather than later (i.e. October). Given how long AQO have waited for a farmin, and assuming there actually were other suitors available (i.e. it wasn't simpy bluster), the MD wouldn't have made this announcement without a high degree of confidence of progressing the deal. Put differently, there was no harm in waiting a few months more while the results of other drills in the Northern Cooper come in and Beach/Chevron drilling program unfolds.