RE:10,000,000 shorts.IMO, Kelt is being punished for being too conservative (2 wells on line in 5.5 months) and failing to carpe diem. Shorts won't lose (they just won't make as much), they're probably hedging, long TOU/WCP/.../..../.../.../... and short Kelt (among others) - industry ratio of longs to shorts is probably very high atm - so picking on a few laggards is a small price to pay to send a message.
As a shareholder, I would of course like them to act now with respect to a capex increase (to $250M total) AND to sell an asset and special dividend some of the proceeds so that I can buy more shares while the share price is this low. The capex increase should not be conditional on the asset sale - as I posted before, at these commodity prices (even though its in backwardation), they could borrow and fully hedge the proceeds of the production resulting from the capex increase financed by debt.