What you say makes sense, IF this were a done deal.
Unfortunately, IMO the PR's statement of 'conditional upon completion of pre-requisite documentation' understates what needs to be done.
The 8-K lists remaining requirements, including such things as 'Completion of a counter evaluation of pledged assets,' and 'Completion of proposal for financing deal with a Gulf based oil company' (although not explicitly stated, I am guessing that acceptance of said proposal is understood to be part of the requirement -- we have already noted that English is not Sure Capital's first language).
I think at least the second item will take time.
I do agree that there is more 'reality' to this PR than Mr. Bendall's LOC announced a year ago, as at least a real company is named.
I hope everything is completed soon; but at this point, I'd personally be satisfied if July's only additional accomplishment was $8.0 in cash to subscribe the rest of the RO, so the rig can be ordered.
Indeed, great news would be if well before the end of July, Mr. Bendall (perhaps together with other directors) announced that $8.0M was in an escrow account so that everyone (including Sure Capital) would know they were ready to buy all remaining RO shares with cash.
