"Funds flow (2) for the first quarter was $267 million ($0.55 per share - basic (2)) ahead of internal expectations due to higher light-oil price realizations."
Ohio, why don't you see the facts? The dividend is from free cash flow. I respect your position but the fact is, the dividend is more than covered by the free cash flow. The debt is slowly being paid down. frankly, I hope the short sale works out for you. It means that I will be buying shares at a lower price. By the way, at 10:53 yesterday, I did sell some June 9 puts at $.50. Then no more sold for me at that price. I was really hoping to be able to prod you into buying them. I left in a GTC order so maybe today is my "lucky" day.
I got assigned 500 $12 puts this morning. My cost after premium is $10.49. Now I will put in toi sell $14 calls against it. Meanwhile the dividend yields me 10.30%. I can live with that.
How can you continue to short. Haven't you had enough. Do you remember the definition of ENERGY in your science class? The definition is "the ability to do work". Energy is your future and of course you will have fluctuations. There will be another market CRISIS within the next 5 years as finally leverage is over. After this clean out of the "system" we will rise again. It always takes CHAOS and CALAMITY to change an ingrained system. History is replete with these things. The status quo will never change except in this way. History does not repeat but rhythms. When you know human nature -- psychology is the KEY to investing.--That's all I have to say about this.