oil flows at surprise, page-13

As an exploration company its always in negative cash flow position.

Drilling another well would send it down another $11 million.
As I have mentioned on this site before. One well in the wrong place or a poor development plan and any profits on the Surprise project will be blown quicker than you can say "another cash raising"!

Put the first well on EPT - see how the reservoir performs - then plan and drill. If Surprise is a fractured reservoir there could be unpleasant surprises! I hope not. But prefer to limit the risk to 1 poor producer rather than 2.
If SUrprise flows and everything is good - then spend your money.

Don't get duped by snake oil merchants who think you can develop profitably by just drilling willy nilly.