RE: how low..BUK can, and likely will, go to 0.
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Their "assets" are over-encumbered by debt they have no ability to repay. They'll never raise cash in this market with natty looking like it will drop below $3mcf.
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All "top" management will likely do is milk whatever cash they can scrape together and keep their generous salaries and bennies going as long as possible.
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Imo, if you can sell for any price, you'll be making out like a bandit - BUK stock literally isn't worth the paper it's printed on.