It depends how they go about it. If the OS is low enough, and they believe the wells will make them profitable, they can reduce(retire) the A/S and drive the price up. There is always the dreaded Reverse Split. No one wants to see that.
The one thing I don't get, is how do we know if they clean up the share structure if we don't know what the current one is. A/S and O/S anyone know these?