I reckon they have 15.5mil as that 5.5 million in the prospectus...

I reckon they have 15.5mil as that 5.5 million in the prospectus looks similarly close to the MK1 end of year liability plus the real explanation of a sudden 7 mil appearing as a liability

more is we don't know what level of cash they are allowed to run this down to according to the contract with Exhalo and very much why its appeared as a liability. Rough guess is they can go to about 5 million ? as Exhalo wouldn't want to be footing the bill of a rig demobilisation the cost on a chance that a company like IVZ went bust so would need some sort of guarantees