Ann: July Production Update, page-41

I could not find any details (maybe I am lazy or missed it or it just ain't there) if they have any commitments to deliver certain volumes of the hedged contract during this 1/4. If they don't they can sell 3/4 of the production on the spot market in order to improve the books and 1/4 at hedged prices. And if MOY has that option avilable to them then I would be asking even more why they needed that extra $5m.
My view is these guys are blowing the budget and if they budgeted $15m for Stage 1 they must have blown it already in 1a and probably more so 1b and stage 2 need fresh funding. Plus some extra cash in case they run into more problems during Stage 2 or experience grade depletion.