In a news release dated March 13 2012 MES stated:

"Under the current MoU, Marauder and the government are working toward executing a production-sharing agreement on or before July 15, 2012"

Then from the JUNE 30 MD&A: 

"Adequate financing will be required for the Company to continue to pursue negotiation of a production sharing agreement."

questions:

- why hasn't the company raised money to advance the PSA in Somalia yet?