Titan Operating Tells TRC OneThing, Tells Local Press Something Else

In a letter to the Texas Railroad Commission, dated May 20, 2011, Titan Operating stated they would like the TRC to expedite their Rule 37 ruling because "at this time, however, the Commission's decision on the Hilliard South Unit application is more urgently needed to allow Titan an opportunity to satisfy it's lease and conservation obligations".

However, in an article dated August 12, 2011 for the Flower Mound leader, Titan"s Mr. Schumacher said Titan does not have any expiring leases resulting from the Rule 37 process.                                                                                                         

So why the urgency if no leases were going to expire?

As of today, the well might not be producing so "held-by-production" may not apply. 

Which statement is accurate? You can't have it both ways Titan.