In Fact, ERF has paid a dividend every month for the past 8 years, during which time the price of oil has varied from $30 - $147 a barrel. ERF just cut the dividend $0.08 a share, knowing that oil prices were headed down to $40 and perhaps below.
OPEC is ready to substantially cut production Dec 17th to bolster oil prices back up to $75 a barrel, which they consider ideal (see news article below).
Put all that together and ERF will NOT cut the dividend further; in fact they may restore the $0.08 cut when the price goes back up toward $75.
Dec 6, 7:53 AM (ET)
ALGIERS, Algeria (AP) - The head of OPEC says financial markets should brace for a "surprise" decision on oil output cuts by the cartel during its summit later this month.
Chakib Khelil, who is also Algeria's energy minister, has told The Associated Press that "a consensus has formed for a significant reduction of production levels" by the 14-member Organization of Petroleum Exporting Countries.
OPEC members are to announce their decision during a summit in Oran, Algeria, on Dec. 17.
Markets are expecting an output reduction but Khelil suggested in an interview Saturday that it could be deeper than expected.
Khelil said the best way to boost oil rates is to "surprise" markets.
Oil prices settled at four-year lows Friday at $40.81 per barrel.
canoe "house" field does not show up as any of their major fields. Do you have another name or a more percise location. When you say Rky Mtn do you mean Canada or US rockies and in which province or state, etc?