BPL seem to have serious problem ! Are we out of cash to pay our bills

I and other BPL shareholders would ask  CEO of BPL to explain  how he created this situation?

We seem to be insolvent form my reading of COB ASX release i.e

https://newswire.iguana2.com/af5f4d73c1a54a33/cob.asx/2A1119407/COB_Thackaringa_Joint_Venture_Update

"As the TJV is no longer operating under the Earning Period provisions of the Joint Venture
agreement, COB issued a Billing Statement to BPL on 16 November 2018 requiring it to
contribute $1,499,783.50, which is its 30% share of the anticipated November and December
2018 expenditure associated with the drilling campaign currently under way at Thackaringa.
Under the provisions of the Joint Venture agreement, BPL is required to pay this amount within
7 days of receipt of the Billing Statement."