Yes, following you I think - but what does SXE offer into any JV? Acreage is highly prospective and will require many $$$ to be spent. And even then, how to monetise? They don’t have spare cash, and would have to issue serious number of shares to raise a decent chunk of money - to then do what exactly ....
So back to it being a shell ...and waiting for who to come along and, I assume, RTO.