Ann: Santos announces sustainable dividend policy, page-26

2017 full year FCF was 618m so a range of 10% to 30% gives
10% - 3c
20% - 6c
30% - 9c

this was based on average oil price of $57.8/b

they say every $10 increase in oil gives another $250 - 300m FCF

so lets say average $70 oil

gives roughly 950m FCF 2018

10% - 4.5c
20% - 9c
30c - 13.6c

all rough calcs

anyway the divs will take me years to match the $7 harbor offer if the share price stays around this level the only way i be happy if the share price goes over $7