AEXP is free and clear of MNLU now, merger was cancelled in Dec 2011. AEXP has almost not debt and nearly no overhead. So if MNLU goes BK, it will have no effect on AEXP. Only debt AEXP seems to have of any significance is money loaned to it by MNLU while MNLU was in a contract to merge with AEXP to own AEXP, so with the schemes and back stabbing MNLU pulled, later revealed, I suspect AEXP may get that debt tossed out making it uncollectable if MNLU ever tried to collect. But the guys that control the leases at Westrock, might offer AEXP the leases again, but right now they are worthless until natural gas prices go back up at least 50 to 75%.
For now, my money is on AEXP putting together a new wildcat well deal, hopefully oil this time, with some new money from the original core investors, many who are stuck with shares at costs 10 to 50 times today's cost!
MNLU debt is about 20-25 times AEXP's debt!!!! Its share count is higher, and will be double AEXP's share count if they issue shares to Westrock to extend the BV leases. And they will need to issue a whole lot more shares to raise cash for debt payment and to raise cash to complete the well and pipeline.
By this summer I expect to see MNLU sub penny and AEXP trading at .03 to .05/share.