I am not sure if you are familiar with what is called a Section 1031 exchange. Section 1031 refers to a section in the Internal Revenue Code which allows for tax free exchanges of like-kind property. In our instance it would likely be an exchange of a piece of the concession in exchange for some producing oil properties in a tax free transaction. I have been a party to and helped arrange many of these transactions. They are used a lot in oil & gas but probably even more so in real estate. I think this type of scenario is a very real possibility.
Also, the 10Q is due out on May 10th. That is 40 days after the end of the quarter ending March 31. If we don't hear anything before then, this should give us an indication if the transformational deal is dead or alive. Also, it will be interesting to see if a conference call is scheduled in conjunction with the release of the 10Q. That would be more the norm for companies than the current every-other-month conference calls and it may be the wise thing to do at this point in time. I think no conference call then means something big is about to happen so they can't talk.
Also, immediately after the issuance of the 10Q is usually the time period when insiders are allowed to buy because all material facts have just been disclosed. But if something big is imminent they cannot buy even then. I would expect that the action or inaction of the insiders will provide us with another clue. No buying at this price after the 10Q release and no conference call either would provide some strong evidence of a near-term transaction.