The problem with sitting tight and pumping for a couple of years...

The problem with sitting tight and pumping for a couple of years to keep the lights on in this environment is that you have to pump a hell of a lot to make much at all (depending on what their refinery deduct is at present - it has been increasing all over the US with refineries full) and every barrel that you take out of the ground is one less to value for reserves when the industry rebounds and comes back into favour. Maybe it would be better to shut the field in and wind back the operations to C&M? This is an experienced Board and management so presumably they will make the tough calls as required.