Actually per the most recent MD&A there is a January 1 2013 deadline for Panther:

" In order for the Company to earn its working interest in the Hawk and Panther prospects, it will need to spud a well on the Hawk prospect by May 31, 2013 and drill two wells on the Panther prospect, the first by January 1, 2013 and the second by January 1, 2014."   

Murray didn't sound overally optimistic about other JV discussions on the conference call, and it seems a bit of a stretch to conclude a deal and get a well spudded in just over two months. There is a bit more time for Hawk. Still, Jaguar is secured by the earlier wells, and between that and the JV lands we have lots of acreage to occupy us even if we lose Hawk and Panther.