blatant lie....xco has < 200mn in cash but nearly all of it is restricted to be used for the JV....they have only 30mn in free cash....as for borrowing more on the credit line, which I assume u r implying, don't make me laugh....the new covenant specifically says that the line is to be paid down to at least 1.2 asap....now can EXCO come up with some $$$$ to make an acquisition???? Sure...but u are not going to like it......here is a sample of what will happen:
http://media.corporate-ir.net/media_files/irol/19/195412/xco_070214b.pdf
so be careful what you wish for