They have sold all the hot acres in Pennsylvania - their...

They have sold all the hot acres in Pennsylvania - their remaining 205,000 acres of shallow Marcellus Shale in New York State is much much less attractive.
From the last quarterly you can see that their daily production is down from over 7,000mcf/d in Q1 to 6,500mcf/d now so with all their talk of re-engineering these wells they still have declining production.
And it shouldn't be forgotten that they owed Macq Bank US$44mil at 31 Mar so they still have net debt of around US$18mil - it's a matter of how economically they can produce their reserves.