whats the pe of maverick

Please correct me if i am wrong, but earning per share for the 2012 financial yr was 1.7 cents per share. So on a share price of say 1.00 thats a pe of 58. Normally oil and gas companies have a pe of between 10 and 20. So going on pe alone, production needs to increase by at least 300% to justify the share price. Mad needs to get production to 1500 to 2000 bod. its taken nearly two yrs to get to about 700, a doubling from here is whats required. Can they do it, thats the real question. Personally no, because there has been to many broken promises. Going on the prospectus, there should be nearly 150 wells drilled by now. Oh dear what has happened. Change of direction, to something managment havent really done, and thats deep oil drilling. I would have prefered them stick to shollow drilling, where everybody in the company are experts. Deep drilling could have been contracted out. Time will tell. In the meantime the shares will drift lower, its natural the shares will catch up with production, as less and less people are going to overpay on potential, and instead buy on fundamentals - PE