AWEMarket Cap: $665.7m2P reserves: 56.1mmboeProduction: 4.7m boe...

AWE
Market Cap: $665.7m
2P reserves: 56.1mmboe
Production: 4.7m boe (end June 2012)
EBITAX: $188.7m
NPAT: $14.8m

SXY
Market Cap:$775.4m
2P reserves: 31.1mmboe
Production 601,647 barrels (end June 2012)
EBITA: $19.7m
NPAT: $8.9m

DLS:
Market cap: $568.4m
2P reserves: 12.4mmboe
Production: 389,877 boe (FY12)
NPAT: $10m

So more reserves for less market value? How does that work?