MHO article, page-8

You do realise that these sorts of articles are often written by people hoping to short the stock. As the comments section of the link suggests, its a very one-sided opinion piece.

As for debt, you have to weigh it against assets. Magnum have a large asset base in proven shale area (see NSE recent drills). They can sell land quite easily to extinguish debt, and to finance acquisitions like AQO. Asset sales to finance acquisitions in frontier assets is an explicit goal of Magnum. It is what they do best, if you look at their history.

DLS management might want articles criticizing Magnum to be circulated. I am sure holders of AQO can see through the bias.