RE:A decent read. MohelJFox wrote: A little conservative on the debt timing but check out that dividend !
"The image above is based on a 50% payout ratio. But this enables us to run the numbers using a 75% payout ratio (a 50% increase). At $90 oil, the monthly dividend would increase to C$0.10 for a yield of in excess of 15%. But that also means that if the oil price drops to US$70/barrel, the current monthly dividend could be maintained at approximately C$0.05/month."
https://seekingalpha.com/article/4525020-cardinal-energy-8-percent-yielding-income-stock
it apparently doesn't take a lot of credentials to write articles for Seeking Alpha. The company has stated that the current dividend is sustainable at 55 wti.
I think, given the track record of oil companies, that they should use special dividends to reward shareholders and employ at base dividend sustainable at something in the 50 - 55 range. Historically when dividends get high, stocks get bid up, then a down cycle starts and the stocks get crucified. Hopefully they've all learned.