After the last quarter they've got 21 million in cash which is...

After the last quarter they've got 21 million in cash which is good but they're planning on spending 9 million next quarter.

In their own words it's "regrettable" they blew 60 million so why not conserve cash until they can hype up something and do another capital raising.

Blackwood my be spudded by the end of this year but so far every one of their drilling slots have spilled by months. So Blackwood may not get drilled for at least 12 months.

At the rate they're throwing money away they may not have enough cash until then especially if their other farmouts don't materialise.