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So they had circa 9m on hand Dec 2014 with 26m from placing. So that is 35m. 4 Million paid back to melody in june plus 6m for transocean, plus 3 million in deferred seismics, plus 2 million in interest payments for loan facility plus 4 million in salaries and expenses gives approx. 35 million - 19 million =16m. Lets say that they use another 6 million up to next June 2016. This leaves a hole of 10m. Thus let us hope that market sentiment better by June 2016 and a Barryroe Farmout concluded. If not there will be another placement for another 20M maybe may 2016. But if Oil rebounds and a deal done things may change
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