News: 88E 88 Energy Posts HY Net Loss Attributable A$11.7 Million, page-151

" The proceeds of the Rights Issue and Shortfall Offer Placement of A$8.0 million / approx. £4.1 million (before costs), which together with the Company's existing cash reserves (A$7.3 million (approx. £3.8 million) as at 30 June 2023), will strengthen the Company's balance sheet and provide the Company with further capital to fund 88 Energy’s share of the Hickory-1 well flow test at Project Phoenix, permitting and planning for a potential new well "

Red, yes aware of that statement from 88E. Note it doesnt say fully funded for Hickory flow test.

Going my calcs, I think they'll do an opportunistically timed pre flow test placement. I dont see that as a huge problem as long as market sentiment and oil price are reasonably buoyant at the time.
More clarity on their financials when the Sept QR drops. Last year it was on Oct 24th, after ASX close and before the open on AIM.