whats the pe of maverick, page-10

If reserves don't make up part of the valuation on a company then can you please explain the SP of companies like Karoon......nearly $5 (and even as high as $11 at one point) with no revenue in sight!!

Your view on PE is correct on an O&G long termer like a Woodside or Conoco, but even they have a % factor in their SP for reserves...

If you want to look at PE alone then you are looking at the wrong stocks when you look at up and coming companies.....best you stick to the blue chips eh...!!