Ann: Share Placement Raises $1,850,000, page-5

Now that NWE is no longer free carried the Xanadu cost moving forward will be lower. I think only a very minimal amount of this towards Xanadu.
No this money is for Expansion/Acquisition for WBE

"WBE has ~180 bopd net production which is expected to grow to ~453 bopd in 2018: According to research on WBE partner Point Loma (PLX), PLX expects to earn CA$14.59 net back on a US$55 oil price which would result in WBE earning A$2.3m in free cash flow. However, based on the forward work program that PLX and WBE are pursuing it is likely that this forecast will be exceeded by some margin. Drilling costs are low compared to Australia with a drill, complete, and a 15-stage hydraulic stimulation program costing only $1.5m. These low capex numbers result in very high IRR and quick well payback. WBE has hundreds of drilling locations on its current acreage.
WBE intends to grow production by acquiring new leases and undertaking a high impact drilling campaign: PLX and WBE are however looking to grow production faster than the developments allow that they currently have on the drawing board.
WBE is well capitalised and can take advantage of acquisition opportunities as they arise"

WBE just got more Capitalised and is currently sniffing out more Growth and Cash Flow.
David wants more than, great deal more than 453 bopd in 2018.
Davis Messina is officially on the Hunt.

Above my opinion only as always DYOR.