NO - there is sufficient cash on hand to fund another 3.25 quarters (that is Jan 31, 2026) without any revenue (management fees or oil sales)
Assuming they can produce 2500 bpd from the 3 wells then Melbana's share is conservatively is 750 bpd x USD60 = $4.5m per quarter or $16m pa.
If the next 2 wells are dry?? then they will need to raise finance or CR.
Ann: Quarterly Activities Summary Period Ended 31 March 2025, page-23
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