MMA is easy to understand. If it manages to hold on and cover...

MMA is easy to understand. If it manages to hold on and cover its debt during this period of below-cost-of-production oil prices, it will rise swiftly and steeply when oil rebounds. If it fails to cover its debt payments and covenants, equity investors will likely be wiped out.
So far, management kept things going, and the market has rewarded this with a substantial upward trend from lows. I think they will ride it out and MMA will appreciate dramatically. It will be painful if I am wrong, however.