Ann: Acquisition Update and Drilling Program , page-12

With a market cap of $18mil and Management's talk of dividends, you're almost justified in talking about price earning ratios which for 2011 is probably around 2 - it's still hard to imagine dividends but they are making profits now and there is equity in the business thanks to that sale of Marcellus acreage in July,2010 for $24.6mil.
It will be interesting to see how much in bonuses the CEO has given himself in the latest six month period given the fact he's closed this latest deal - he's not shy.