Ann: Zapato-1 Drilling Update, page-563

Yes $10 million is a big spend but their JV partner Sonangol paid back MAY $11.9 million as noted in the quarterly, some of it may have been for a shortfall from Sonangol last quarter MAY was owed.
The year to date spending of $39,252,000 indicates MAY and Sonangol have paid a big portion of the drilling costs so far. Looks like all the costs have been paid for the drilling of Alameda and big chunk of the drilling costs of Zapato has also been paid.
With $35.5 million in the bank and the option money coming in, MAY has more than enough to pay for the remaining amount of drilling costs for Zapato (15% share) and for quite a few drill wells after that (30% share), financially MAY is looking good.