They might get creative...
If MEL wanted a working interest in SM71, and/or OEL/MEL want to farmin to the new permits, that might raise a bit of cash to fix their near term funding shortfall.
Directors could loan the company money (again) with a view to getting paid back when the timing is better for a CR. ie, after SM71 is producing, and ahead of raising funds to drill stepout producer wells at SM71 and/or wells in the new permits.
Otherwise, yes agree, doing a CR now would be painful.
They might get creative... If MEL wanted a working interest in...
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| Open | High | Low | Value | Volume |
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| Last trade - 13.58pm 13/05/2024 (20 minute delay) ? |
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Last
4.8¢ |
Change
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| Last updated 14.08pm 13/05/2024 ? | |||||
| BYE (ASX) Chart |