Hi kwaidan1 ... guess we'll have to wait and see their plans.My...

Hi kwaidan1 ... guess we'll have to wait and see their plans.

My thoughts are that they did not need to raise debt due to any pressure on their current facilities. Clearly their cash flow is substantial and they could readily pay off large whacks of their debt if they reduced their drilling (which they don't want to do given its success).

However, the raising potentially provides much greater flexibility regarding purchases and how they massage their portfolio - as well as getting a well respected shareholder on board.

Not theying they will make a purchase. However I see "will be used to retire debt" as meaning they have no better use for it at the time.

MJS