looks like a formal sales process is in the cards
Production down due to operations challenges, no money to pay bank yet so now a formal sale process will be required as part of forebearance. Not exactly unexpected.
By the way, $6,000,000 impairment writeoff on reserves just to confirm the fact that quarterly reserves should be reviewed every quarter but rarely are. In this case because they are likely getting a new engineering report ready as part of the sale process they took a charge in the quarter.