News: ORG Origin Energy says FY net loss attributable $2.23 bln, page-8

Yes, the days of 50c dividends are gone, killed by that large equity raising. When they have stabilised the debt situation we are probably looking at about 20c annual div IMO. Judging from likely underlying profits and payout ratios.

But the board will be under intense pressure from the funds to restore the div, and they may give in to that pressure earlier than the balance sheet would suggest.

And yes, it's a brilliant leverage bet on the oil price. Guidance distribution breakeven for APLNG is $48/bbl. I'm interested to see the details of the upcoming plans they talk about for focused cost cuts to APLNG (sorry ORG staff, another round of redundancies coming your way!) but at these sorts of volumes even a few dollars a barrel cut will make a significant difference, particularly if matched by a rise in oil prices.