Unlevered balance sheet butThe asset base is very levered to oil prices. Another unlevered balance sheet with good leverage to oil is ATH. The stategy here at TGL is to pile up cash to make an acquisition next time oil heads south. They're focused on the Egypt area hence relocating the key execs to London. Actually it would be interesting if they sold the Canadian assets and used that cash plus cash flow to buy something like SDX. SDX doesn't have access to debt unlike TGL. However SDX management isn't looking to sell. Just some thinking out loud. These companies witih strong balance sheets good cash-generative assets have plenty of options and I like that.