"Because they completed a study, and the results are material, don't they have to disclose via a press release?"

No, quite the opposite. They have an obligation by law to not disclose ANY material information not verified by a "qualified person". It is the exact same law that protects the market from a company releasing any opinion from any unqualified source. Very simple and very logical.

It may not be the result investors want or think is true, but it isn't all that surprising.

That is not relevant nor is it an argument justifying the breaking of law and disclosure policies.

How can something be economically viable for a company when there is no capital, nor means to raising capital, to invest into it? The balance sheet has caught up with SLI.

clearly you do not understand the concept of economic viability. Viability is not reliant on accessibility to capital.

There will be a lot of "what-ifs" going around and I suspect some "I told you so"s from the stockhouse people.

Stockwho?

It seems the focus has now shifted to going after the accused.

The focus has always been on the things that have occured. Those who are responsible are not accused...they are responsible...it's the cross one has to bear when collecting the salary and benefits that come with the job.

One thing I can't grasp - wouldn't management have released all drilling information if they believed it helped the company why would any of them want to see the company die if they are getting paid while it is still alive?

If you have only one unanswered question regarding how the drill program was conducted and the information released consider yourself in the minority. Good for you.

S