Well the deal is this. They need short term financing, and long term expansion financing. They could conceivably sell an asset right now, as there are no secured debt instruments tying up assets, that I know of. What asset, or % of an asset, I do not know. They have more than one asset. They could do a mixture of things. They could JV the completion of just this well for cash.
I think part of the delay may be that they have too many options (versus too few, which is what the market price is saying(1)), and they are negotiating with various parties for the best deals, playing one off against the other?
But the low market price is also in part due to the recent market wide sell off, so it is not just MNLU. Hell AA pays a dividend and I lost $7 out of $18 on the price of those shares the last 6-7 weeks at the recent low!
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