re: the rest of the story: well banjo,
at least this one is defined as quick and clean, unlike that looong drawn out nefarious grab of PCE's vrb IT, eh?
http://www.mineweb.net/co_releases/353863.htm
"If Cougar Energy does not complete its progressive expenditure requirements, then the Agreements terminate unless otherwise agreed, and Cougar Energy will hold no interest. "