RE:Until ConocoPhillips can say their Cenovus shares are soldThe staff cuts are still going on, more cuts this week and over the next 2 weeks so the budget cuts are still in progress but on the right track. Office leases are not going to get much better anytimes soon with all the space they are occupying and not a lot of interested parties to sub lease. There will be costs associated with moving all the staff from Suncor and the Bow to Brookfield place, this will be an up front drag but likely some savings down the road once the Suncor lease expires. Then the Bow. As for the promise for a bigger dividend, that wont happen. Alex stated in his CIBC investor conference that they will not prematurely raise the dividend when they have other places to use that money. He never wants to be in a position where he raises the DIV and then has to cut back if they had issues. So I think its safe to say the DIV will stay the same for the near future until cash flows improve quite a bit. I do see potential here at these prices but they are not without some risks. Not to mention the overhang of the Conoco payments to be made if oil improves past the set rate, remainder of Conoco shares they could be sold at some point, potential SP drop if production numbers miss, and continued oil price discouts for Cenovus' product.