Debt as a measure of investmentHigh debt is always a worry when it comes to O&G companies. The analysts always criticise how much a company borrows without considering how accretive the investmens they make. I am impressed at how some companies, such as VEt at al have resisted cries for bigger dividends so as to use the current bonanza to reduce debt and buy back shares. It seems that with the drop in SP in so many companies, the shft may go from debt reduction to share buy back. All good stuff IMHO. Once the current scare is over I expect to be richly rewarded by the O&Gs that I hold and I lose no sleep over the recend drops. I only wish I had more spare cash to buy into them. GLTAL