They might get creative... If MEL wanted a working interest in...

They might get creative...
If MEL wanted a working interest in SM71, and/or OEL/MEL want to farmin to the new permits, that might raise a bit of cash to fix their near term funding shortfall.

Directors could loan the company money (again) with a view to getting paid back when the timing is better for a CR. ie, after SM71 is producing, and ahead of raising funds to drill stepout producer wells at SM71 and/or wells in the new permits.

Otherwise, yes agree, doing a CR now would be painful.