News: OXX Octanex not granted petroleum retention leases for Ascalon gas discovery, page-2

River et al.
Can you guys more knowledgeable than I outline the implications of this.
I had taken that a retention lease was means of "sitting" on this pending hopefully a deal at some point.
I take it doesn't mean that OXX has lost the asset? But I take it that it means that OXX has to comply with work programs etc in order to retain the leases.
Was OXX chancing there luck here?
Pressure being brought to bare?
Is this a use it or lose it scenario?