Debt at end of quarter will be telling when they put out their numbers next week, the key one will be to see how much if any the debt has grown since the end of the year. Presumably they drilled 2-3 wells at who knows 3-4 million each all in so that is a tidy little number. If these wells rolled snake eyes and were not great then it would be hard to see how the company would even have one dime of available capital to do anything else.
Breakup or not breakup they just won't have any more wiggle room to do anything.
A sale then would seem to be the only alternative. So I guess you buy hoping for that option at these prices or the flip side is there is no sale and you could drop to a dime. I see the Strategic alternative option coming in the next press release. I think I will start nibbling away down here.