I think you are spot on. There is little in the way of provision for future drilling costs (some $300k). The way forward for more $ is to do a capital raising. Best way to do this is firm up the share price (by way of good announcement) then hit the market for more.
There is an incentive for these guys to put a positive spin on the stock as its their only real source of $.
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announcement is due, page-7
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