I respectfully disagree with your conclusion in terms of impact when you say....  "no HUGE reduction in capital spending,  only enough to prudently manage the current debt levels...... without hitting production too much."

Angle is indicating a reduction in year-end exit production from previously indicated 17750boe/d region to 16250 boe/d region and that IMHO  is quite significant, especially in our current environment of Oil price uncertainty where  Angle guidance is now based upon forecast prices of approximately $82.57/bbl WTI ($70.45/bbl Edmonton light) for the period of July 1 to December 31, 2012 compared to  prior guidance based on forecast prices of $101.62/bbl WTI ($95.00/bbl Edmonton light).

I view the prospects of Angle as relatively solid, even though they do need (as indicated in Angle strategy) to keep working at debt reduction and they also need recovery in NG price and in their realized NGL price price plus at minimum $80 oil to hold, so that their Q1, 2012 operating netback at $19.88 and corporate cashflow per boe at $15.69 can be significantly improved,


Good decision-making to All,