I couldn't say. Certainly, it would be a 'fire sale'. Last year their 'proven reserves' were valued at something like $366mil.
With current market cap at $7mil and current value of those bonds are at $53 mil, I would think that even at $1/share (super generous), a buyer would still make out. Those are very rough numbers that also doesn't factor in cash on hand the company has available.
They are set to release earnings in a couple weeks. That should offer more guidance on how things stand.
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