As an exploration company its always in negative cash flow position.
Drilling another well would send it down another $11 million.
As I have mentioned on this site before. One well in the wrong place or a poor development plan and any profits on the Surprise project will be blown quicker than you can say "another cash raising"!
Put the first well on EPT - see how the reservoir performs - then plan and drill. If Surprise is a fractured reservoir there could be unpleasant surprises! I hope not. But prefer to limit the risk to 1 poor producer rather than 2.
If SUrprise flows and everything is good - then spend your money.
Don't get duped by snake oil merchants who think you can develop profitably by just drilling willy nilly.
As an exploration company its always in negative cash flow...
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