another gdn classic!, page-7

Sept Quarter
680K Cash
500K debt

Dec quarter

+ 1.5million from 2nd WCU tranche
+ 680k cash holdings
- 500K debt repayment
- 300K admin costs
- 200K for deliverability study (a guess)

I'd be guessing they have around $1.2million at end of december, and even less now. There are also delays because they don't even know if they can trust the figures provided by the contractor. That means more delays, admin costs and consultant costs. They need to raise some cash to do anything like fraccing or drilling.