Regarding Short PositionThe size of the position seems relatively small based on the number of shares outstanding. If the new wells have not even been drilled yet, and someone knows how to evaluate what the fair market value for the stock is then shorting on a short term runup might be a good way to make a short term profit while the market waits for results on the new gas wells.
On what excahnge are these shares shorted. I am surprised you can short a penny stock.