everyone needs to change their thinking, page-90

Quite right ! it says that this obligation is up for negotiation upon expiry of the lease, per year, and you are correct I ALSO questioned if this money had already been spent for the 2008 period. So yes they could do nothing and preserve cash (provided they've already met the 2008 requirement) and they renegotiate with the Namibian gov't to keep the licence without spending a penny (Nathan McMahon will be familiar with the arguments in favour of this option LOL. these would naturally be favourable developments, they just don't look likely from what has been announced.

IF we take the status quo they will run out of cash soon.
We can all speculate about what might happen,,,,, and the result of announcing that all drilling and DFS will be suspended or scaled back to preserve cash. Or that they will go the market for more cash. Or that they've sold tenements to raise cash or a partner has bought in. I'm sure many are betting on the last on that list as it's the only one I can see to save them from penny dreadful status.