RE: RE: Athena Field News-Heavy Selling Coming I think you might be mixing up actual debt levels with senior debt facilities (available credit). IAE had cash before the acquisition. The acquisition cost 200 million + shares + 150 million in acquired debt. I don't see how that can get to more than $350 million in debt, especially since there was cash in the kitty prior to it. I'm sure there will be a fairly fluid situation with cash flow paying down debt and capex drawing upon it over the next couple of years, but by the end of 2014 I'd hope to see IAE debt free. When they say it will take 2 years to pay off the Valiant acquisition, they mean 2 years for the acquired assets to pay for the acquisition price with their own cash flow (8kb/d*$70/b*360d*2y). It was really quite a brilliant move.