So, in Green Lantern #7, Sinestro and Hal Jordan are now in the confines of the mysterious Indigo tribe. We start to learn more about them, including the fact that they have been founded by Abin Sur, the dead Green Lantern that originally gave the ring and battery to Hal Jordan.
It seems like it's all building to a big event that will cross all of the GL titles. They've also hinted that the Guardians are planning to end the Green Lantern Corps, and replace them with some other, apparently better, means of defending the universe.
Overall, it's a good title, definitely worth reading if you aren't already!