The company loan was based on production rate and proven reserved, because they sold some proven assets and the lower flow rate together with depletion of gas, the bank has to adjust their lending and interest if they still support them, otherwise they might just stop the funding ?
One other bad sign was Masterman had not bought anymore shares of late even at Rock ever bottom price ! He probably saw the sign and realised what is going on after all these years of supporting it. I really admired his faith on PVE ?
Hopefully holders would get something back in the end even at heavy loss ?
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