"hard to believe larger positions have not been taken.

Sedar still only shows Pinetree and joint actors with greater than 10%."

It would seem apparent that larger positions won't take place until the numbers are on the page indicating a resource worth picking up.  In addition, with our rose coloured glasses on we may not see the combined infrastructure costs and the multi-company involvements as being an impediment, but until the resource more than makes up for the logistic and legal issues, I assume the majors will hold to the sidelines a little longer.  We know they're looking, like a leopard circling a campfire determining if it is safe to rush in without being burned by the "ring of fire"