maverick = no real future....lol..., page-15

Hey Paul,

If you're an O&G E&P investor, over time you will have come too appreciate the many vagaries of valuation and which to use and when.

Reserves, further broken down into 1P, 2P & 3P. Go a step further also and look PDP, PDNP and PUD numbers.

Then look at the bopd (now be careful if its boepd because the 6:1 ration for works well for energy equivalency but not for Revenue!). Then look at how the company plans to grow that (do they have PUD, PDNP locations or will they be wildcatting?)

Then look at "Netback" received on the production (not all oil is priced the same and not all costs - LOE - are equal either - location is important)

Then look at Capex to drill wells, the payback time and then the IRR

After coming up with that info, I challenge to make the peer comparison to MAD (pick MC or EV if you wish). If PE is the only measurement then at least expand to PEG.

If you can find (on the ASX) an all round better performer I would like to see that analysis.

Now that would make a compelling post.