at this stage no capital raisings .!., page-20

If Bond persists in plans to spend $57m a quarter as he has stated, and only has $87m in the bank he is either going to have to raise more debt and/or equity.

There is no real credible timing on the GCL deal, there is no real credible timing on the sale of Teresa and the net cash flow affect on oil production isn't going to offset his huge costs.

That Quarterly was all about spending money and certainly not reducing overheads.

I agree, if he massively cuts spending then sure, LNC isn't in a bad position, but his signal to the market is quite the opposite of reducing costs.

Failing GCL and/or the sale of Teresa, what options does he have but to raise more money via debt and/or equity.