RE:Very high debt levelgreat and informative post!
have been wondering about this company for a while but your post tells me i should look elsewhere at the moment.
In this market debt levels will have to be watched very carefully as when the reserve engineers begin to write down reserves companies will begin to get hammered on their reserve based lending facilities.
I have been looking for co's with minimal if any debt, running room and cash on hand - these will be the companies that survive this structural change in the markets and grow on the other side.