Ann: $5m debt facility secured to deliver Odin gas to market, page-29

Right now getting loans is very difficult at reasonable rates and if you want to raise funds via issue of shares you have to do it at very big discount.
Basically the financial markets are f##ked, a lot of ASX companies struggling to get funds and some will or have been delisted already due financial issues.
MEL is transitioning to be a producer, Vali has been paid for but Odin has not, these funds are to be used to pay for the development of the Odin gas field.
Also next year MEL will have a lot of drilling, to further develop more gas and possibly oil fields.
This capital raise ensures MELs future and allows for any hiccups along the way.
I suspect VEN is also look at raising some funds.