I have compared AWE to one of my favourite and profitable...

I have compared AWE to one of my favourite and profitable investments, HZN. There is currently about $100m difference in mkt cap.

AWE 60m BOOE 2P reserves + massive contingent resources
HZN 20m BOOE 2P reserves

AWE Book Value NTA 30/06/12- $855m
HZN Book Value NTA 30/06/12- $162m

AWE- cashflow funded
HZN- debt funded

HZN- 2016 Production Forecast 10m BOOE
HZN- 2016 Production Forecast 3.5m BOOE

If AWE is successful at, to steal someone else's phrase "reinventing itself" we are going to see a substantial re-rating at some stage soon.

I am not a rocket scientist but the value proposition here is compelling.