Yes, it REALLY looks tight. As you mention, it doesn't include the $525K PP, but this isn't much. If they blew through $7M last year, then by inference, $525K will last all of 4 weeks if they continue operating and drilling in the same manner. Not too rosy a picture.

I believe though that the PP was placed in order to provide breathing room so that management can search for other financing or other deals.

Trainboy