If by "news" you are referring to the legal issues, those typically don't affect the stock price much. What has affected the stock price, though, is management's failure to execute, the problems and substantial extra costs resulting from the drill ship-problems, and the failure to find commercial quantities of oil in the first well. They are going to need a JV partner and more money (more dilution?). Their lease has great potential long-term, but imho short-term there are much better plays out there...