Ann: Zapato-1 Drilling Update, page-552

The contribution from the JV partner seems to be evening out, in their latest quarterly released today, MAY paid out $10.9aud million on exploration and the JV partner contributed $11.9aud million during the quarter, Sonangol is probably contributing more this quarter due to the shortfall last quarter. It looks like that most of the drilling costs have been already paid for. I am sure they will work out the balance owing at the end of the drilling program.
MAY had a very healthy cash balance of $35.5 million at the end of June and with about another $15 million coming in the current quarter from the excise of the options, it should be more than enough to pay for the current drilling (15% share) and for a few further future drilling oil wells (30% share). Financially they are looking in good shape, I doubt a CR will be required at this stage.