Calculations with extended basis sets and full intrachannel coupling o
f discrete and continuum states suggest an alternative interpretation
of the NEXAFS spectrum of molecular oxygen. In this interpretation the
roles of valence-Rydberg mixing and intrachannel discrete-continuum i
nteraction are stressed at the expense of the exchange splitting mecha
nism. Calculations indicate that only the doublet-parent channel holds
discrete strong transitions with sigma character, while the quartet-
parent channel contains preferentially Rydberg-like transitions.