They were talking about a 3 well drilling program and for that...

They were talking about a 3 well drilling program and for that it is not enough without a partner or 2. Now that they have payed themselves for doing bugger all for the past 12 months, the remaining would still be enough for 1 maybe 2 well in an easier drill location, as per announcement; by the time they go through the same rig moral on the newer target another 12 months would have past, then maybe an easier target would be found = 12 more months and a name change and a dilution and a CR.
Call me cynical