Servicing debt is keyThe CEO is greedy - instead of servicing debt he decided to acquire a heavy oil asset who economics simply do not work which will simply add to the already strained overhead of the company.
They need to sell assets in the EF - sell a portion or all and reduce leverage to get to a technical reset.
You guys understand that impairment = unfeasible, and D&A are still real expenses albiet not a C/F strain. You need to replace those assets.
I don't really understand what management is doing - but this business smells like a Concordia where they are simply too stupid, blind, or stubborn to accept the reality of the market and react - instead they are praying for the oil gods/OPEC to stablize the market.