No expert on the law but I believe they have to tell people what is material to the market (as opposed to what the market wants to know). Also various exceptions like commercial in confidence, etc.
In addition they can sit on a draft agreement but it is not "fact" until signed and they can time that to suit.
As to your question, I believe it relates to how material the issue is. Ie if the well is very expensive relative to Market Cappital, they proably have to give a play by play (eg an exploration company with only one well). If it is one of several wells and the cost is 1-2% of MC, they can probably get away with periodic summaries.
AOK Price at posting:
8.7¢ Sentiment: LT Buy Disclosure: Held
