Roberts just doing whatever the lenders are telling him to do, shutting in production(6500 boe/day), cutting capex to basically zero, and then sitting on his hands and collecting his salary. Production will exit 2016 at around 50,000 boe/day as it stands right now. "We are cutting this and cutting that" but Oh, no mention about cutting down that 8 member, do nothing, "divvy" borrowing, Board of Directors. CNQ, which has over 10X the production of PWE, gets by with 11 Directors.
"New presentation" not realistic as Candian light Sweet average C$46 for Dec. 2015 and is down another $5-6 so far in 2016. PWE's lowest price deck used in any of their very limited assumptions is C$50 in this puff piece that they were too lazy to update.