If Oil and Gas continue to fall then they will have to reduce their dividends but even if they were cut in half you still have double digit dividends. Remember that some of these funds that are well established were cash generative when oil was $30-40 a barrel and if you believe in peak oil and T.Boone Pickens positive outlook for Nat gas then they should whether the storm until prices pick up again. I have started to scale into such funds and will buy more if they drop futher.

PWE - Has made some good hedging moves and have locked in some production at higher prices "We actively hedged oil and natural gas prices for 2009 and currently have WTI collars on 30,000
barrels per day of 2009 oil production at US$80.00 per barrel by US$110.21 per barrel and 101,000
GJ per day of 2009 natural gas production under collars at $7.88 per GJ by $11.27 per GJ. In
October 2008, we monetized a portion of our crude oil financial contracts which resulted in cash
proceeds of approximately $123 million." and have fixed their dividends to at least Jan 09 "Penn West’s Board of Directors recently resolved to keep the Trust’s distribution level at $0.34 per
unit per month, for the months of November, December and January subject to maintenance of
current forecasts of commodity prices, production levels and planned capital expenditures."
They also have the ability to reduce or increase capacity as and when it is required. Here is their Qtr report which I recommend to you... PWE Report