Anyone who thinks AED will sit on a PE of 12 long term is dreaming. Oil producers just don't have a PE anything like that.
Check TAP, ARC Energy, Stuart Petroleum, Beach Pet, Anzon... how many trade on a PE of 6 or better??
Large exploration and development prospects can drive up the PE (i.e. the lack of current production) but this is not where AED is...
P1000