The below is just my research based on Anns. Feel free to...

The below is just my research based on Anns. Feel free to correct

ADX had $1 mill at the end of March
I understand they gained around $2 mil via the farm out of Romania - brilliant timing that one!!!

Cost of Lambouka offshore was $10 mil - a bit of a balls up that one.
Cost of Sidi Dhaher was $7.5 mil - expensive for some reason.
I guess they will further drill more onshore appraisal wells at around $4 mil per well.
Dougga, 60% interest, offshore appraisal well will cost say $9 mil.

ADX apparently have a drawdown facility, which I guess can kick in if SD is commercial. So that again was well down to mgt of ADX.
Nevertheless some sort of CR maybe required.

Given Wolfgang Zimmer went without salary for 12 months in the early days of ADX, you get the impression he is capital savvy. So that's good.
But the onshore and offshore prizes beckon.

Dragon oil / Jacka intend to drill an appraisal well within the Gulf of Hammomand which is close to Dougga. So maybe ADX will wait for their results first.

The net result is we may be asked to put our hand in our wallets, but this could be worthwhile. I don't think it will be a big CR, unless they decide to rush ahead with Dougga.
I feel the brokers currently look at ADX and see low funds, so assume a big CR is needed. That is why it is on their watch list only. IMO

Jacka Res JKA are masters of promotion, but there seems to be a lull before anything will result. They are far more diverse.

I'm happy will ADX and Co. Looking forward to SD test flow results and the future year.