GLOBE AND MAIL TODAY - PG. B11 BUSINESS SECTIONPatrick Gattuso of Reuters rated this company number one of all Canadian energy companies today in the Globe and Mail for highest sustainable dividend payout based on positive free cash flow. Their free cash flow represented over 150% of their 8% dividend after allowing for the usual funds for ongoing operations! In effect they could pay just over a 12% dividend in order to use up their surplus free cash flow! No other energy company in Canada was even close to these numbers. In fact no other company even had 100% free cash flow to dividends paid in spite of the fact their % dividend payout were all lower. In effect most if not all of these companies will have to cut their dividends if oil prices don't turn around by the end of the year. By the way the only other outstanding company in the energy patch is High Arctic Energy Services HWO-T which wasn't included as the market cap was under $300 mil. It too has very high cash flow as well as earnings and gets most of its business in Papua New Guinea drilling high impact gas wells. This gas ends up in Asia for close to $10/MCF so this company is insulated from the low oil and gas prices in North America.