The best way to figure operating cash flow out is to refer to the Statement of Cash Flows published quarterly by the company and available on their web site. Page 20 of the 2007Q3 report contains this info. Also page 16 of that same report contains useful quarterly info along with the CF/share for each quarter. Based on these figures I estimate 2007 CF to be approx 50 MM (or 25 cents/share).

This same 50MM will be generated in 2008 along with whatever the oilsands will contribute. (In fact the 50MM from conventional sources should be higher in 2008 as they will be adding more natural gas and NG prices are higher now) I expect the oilsands to contribute at least 50MM to operating cash flow for 2008 (after interest & taxes) bringing total 2008 CF/share to approx 100 MM or 50 cents/share - enough to support a $5 SP. Once they publish 2008 Q1 & Q2 reports it will be evident how much cash flow the Great Divide is capable of producing on an annual basis. If they support my estimate the SP should move to $5 sooner rather than later.