Disagree on that one. Look at all the insider stock ownership. Only drops fast if they sell fast and they are selling slow. They are not stupid. If they dump their shares, the price collapses and they get squat.
Nice and slow....let it bleed down. Exit quietly. Put out some more PRs. Get some good MMs to pump it a bit. Post some interesting stories about upper zone potential, etc...
This is all rumor, speculation and FUD
(fear, uncertainity, deception)
If you are long and you think bankruptcy for sure - you should be out by now !
The only unknown is the testing results of these wells.
Given the time it has taken - yes the chance is diminishing. At this point it is reduced to a 50-50 toss up.
I believe this company will do well in the long haul, even if these wells turn out to be no-pay. Yes there will be a 20-30% dip if the well is no-pay.