Lets remember again who the shareholders are. A very small number of shares (proportionately) were "spun off" to DEI shareholders. The vast majority of the shares in Donnycreek were sold in private placements where the ordinary donnybrrok investor had no access. So who are we worried about being fair to? I am really not too concerned about the investors that tripled their money in the private placements.
As for what should be done now well donnybrook is in a bind. On a perfect day with everything going right they might have enough money to cover their portion of the costs of drilling the 4th Bigstone well but in all probability they are about $2M short on the amount required to complete this well, Their 25% partner Pennant is under new management and don't have a red cent to their name. Their other 25% partner Blackbird has some cash but may be focusing elsewhere. The cashflow from Donnybrook's current wells is not sufficient to fund drill or a meaningful share buy back. Remember that the decline rates on these wells are material.
The only way out that I see is a disposition of assets and they are not going to get a kings ransom for what they have. Cequence would be the logical buyer for the Simonette acreage as they have farmed in at 50% but they have their own problems. The bigstone acreage is probably worth something but it is small---3 sections.
Given this managements track record with this company (I don't give a rip what they have done in the past and what they are doing with donnycreek) I am not hopeful. Having said all of the above I am in so deep, having listened to Schaefer when he first recommended the stock, that I have to sit and wait for a miracle to happen.