Usually public companies have to announce material information as and when it becomes available. The success or failure of rights offering which expired on April 13 is a material information and should be announced promptly. I think approval of the lease is very much dependent on whether or not EEGCE has the money to do further exploration or drilling on the leased area.It seems that the RO may not have been successful. This may have some bearing the new minister's decision on the lease if the minister is properly briefed by the officials.
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