They have to do a lot better than 10k/month.
Figure $50 gross/bbl and 10k bbls/month that means $1.5mm gross for the quarter. Now figure in their cut out of that, the lifting costs, the G&A and, I guess, the severance costs of all those layoffs (for normal companies I assume 3 months but who knows for this one) and the prognosis is Gamble's $1mm bought them another quarter, at best.
I wonder how their financing is coming. Honestly, if they get it done, I think current shareholders will end up with practically nothing as opposed to the new shareholders - if they can find any. As the company already having announced it's looking to raise money and with all but the truly clueless figuring out any financing is going to be enormously dilutive, there really is no reason to own the stock right now ahead of that financing.
As always, all of the above are just my opinions. No facts have been asserted.
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