Yes, they need additional funds for SM71 dev around mid year, according to the Dec QR.
Also note the $8m from MEL was fully drawn in Jan so they're paying 14%/pa interest on that.
The first stage of SM71 dev is a fairly modest reserves and forecast production. Might be a stretch to farmout further until additional reserves are proved up from stepout wells.
But they need the cash topup before then. Tricky.
