YOU ALL BETTER DUMP THIS POS THE WELL IS DAMAGED BADLY
NO money and needmore financing now that the well is damaged u might as well say this company is finished i wouldent be surprised to see a 40% decline today with more traDERS LOOKING TO SELL AND SHORT THIS POS
Chapter 11 is a possibility, perhaps not immediately as they have cash to continue with their other projects but if they cannot bring them on with their current assets, it will come eventually. If they write this off, there will be quite a carryforward loss on the books which may be of value if someone wants the rest of the assets. Sold calls against my position and thought that would shield me but it only mitigates part of the loss unfortunately. Looked at the puts to hedge but they were too expensive. I guess never bet against the wise guys, the stock was heavily shorted on top of the huge put open interest. Time to move on.