"Could it have anything to do with another entity that may be trying to partner or maybe buyout the company?"

That's a very astute question!  In my experiences, that's what these kinds of actions are usually about, as I've seen this kind of thing before in exploration companies.  Sometimes they are a good thing as in the case of Diamond Fields Resources long ago.  However, that and other rare instances I can recall came about the following of drilling, not before.  So, in this case, I would have to suspect that insiders got wind of something they would not like to see suddenly presented to shareholders.  ...just a guess, mind you.