Nawar ,I don't even pretend to have the insight of the company that you have,
I have however been investing in these market for over 40 years and my family has a pretty strong investment background by any standard.
Stocks do not trade at 60 cents for no reason,and PWE is no exception.
The option markets are portraying a little or no chance of a substantial recovery,and on top of the decline in oil prices it appears a recessionary , deflationary world wide scenario may be facing us.
I truly hope that the necessary metrics for a recovery come to pass ,but without some change in oil prices the assets that are in the ground lose value daily,and the debt and covenants that are above ground become more pressing at the same time.
Management needs to act , even if just for eyewash. quickly.