I agree, but I have to wonder where the money is going in that this loan comes so soon after the last one.  After all, expenses are down by a lot, at least in so far as we know. 

While this looks like bad news, it is not entirely unexpected.  Operating expenses will continue, most likely, even after a partner is found to pay for drilling.  I would prefer that the partnership happen first, but maybe soon (as "Kickedoff" is forecasting).