The reserves report should be released shortly, and a week or two later the annual report. The reserves should quell fear-based selling as the credit facility is tied to the reserves and well performance. What in your view is RBC doing buying all these shares if the company is on the brink of bankruptcy? Further, Anonymous has bought 321,000 already today. The trading looks fine to me. Consider that natural gas names like PPY and CKE are at 52-week lows. The oil/gas ratio here could be better and stands at 40% based on the latest production figures:

"Manitok Energy Inc. has achieved another production milestone. Based on field estimates, Manitok's current production level exceeds 7,100 barrels of oil equivalent per day (40 per cent light oil and liquids), surpassing Manitok's previously announced record production level of 6,500 barrels of oil equivalent per day at the end of October, 2016."

PDP reserves more than covers all the total outstanding debt, and a good portion of that isn't due until 2021.