Happy to be corrected, and have no idea on the...

Happy to be corrected, and have no idea on the conditions/limitations of the note facility with Bergen, regardless:

Bergen have a convertible note with $1.1M face-value. They have so far converted only $200K (@ $0.0576), giving them 3.4M shares. At current prices, they are entitled to almost another 22M shares.

I'm of the view that Bergen will continue to drive the price down, piece of cake for them with limited buyer interest right now and the 3.4M shares already issued. Next conversion will take place at a lower level.

SOC don't have the cash to repurchase the note, and will probably be forced (in absence of an alternative) to issue further notes to keep paying the bills.

I can't see any positive price movement until Bergen have finished converting their note. Bergen will need some positive (drilling) results as the trigger, but then the pump will be on IMO.