Isn't it amazing, an oiler that already makes a profit on high...

Isn't it amazing, an oiler that already makes a profit on high margins, generates cash flow, has oil reserves, is developing high margin gas, etc etc

It even has some pretty interesting underhyped exploration opportunities now.

...and it is floundering on a PE of 6, a prospective (Dec 09 FY) PE probably closer to 4 than 5.

Better to chase all those cash black holes that might make a dollar someday, and if they do will no doubt pour it straight into a bigger black hole.

Patience.

EL