Android If I get a chance I will get into detail , but you need...

Android
If I get a chance I will get into detail , but you need to know the story behind the numbers - as an example DLS have increased reserves due to resources moving to reserves and the discovery of the monster Bauer field . Their market cap however fully reflects this , if is up nearly 5 fold over 3 years so to look at reserve growth replacement statically is wrong

AWE has a low EV per reserve barrel due to the acquisition of an undeveloped field needing a big JV partner and 100s of millions to develop . Looks good on paper to add 10s of million in reserves but ask yourself how much did they acquire it for and where will the money come from to develop.
Similarly Sxy has issued shares and undertaken acquisitions in achieving their reserve growth and market cap has gone up a lot

Beach have also been converting a large amount of gas resource to reserves due to infill drilling and GSA execution - market cap increased by about almost 2 in last 3 years

Now this table you have posted ignores the RSC entirely - too hard for analysts who make top line comparisons behind a computer - so either you include revenue from RSC or you include about 85 aud of extra cash which ofcourse would move ROC EV per barrel down to 10 . If you include value of RSC you need to factor that in to the table - as I said to much work for the analyst paid to pump out research

Now for production growth to look at growth without factoring on revenue as a percentage of market cap is also useless .
As an example - should I get excited that company A is achieving revenue equiv of 50% of its market cap that will grow by 45% or should I think company B is producing 90% of its market cap in revenue now .

Look at Roc reserve in 2010 and 2014 . After 4 years if you believed the first table you would assume roc would only have about 1.6 years left - yet they have 4.6 years plus RSC revenue or 160 m in cash

Roc this year alone is likely to generate 80-100 in free cash flow ( pre RSC ) that money can be used for many reserve replacement opportunities through farm in , acquisition etc etc

Please note i think all the other companies are great , but with the exception of I don't see them as good an inv from a valuation point of view . I much prefer a company peaking production wise now while oil is robust and accumulating cash and I assure you reserves will take care of themselves. Look at all the reserve purchases and you will realise ROC could increase reserve life by acquisition although I expect more success in China - only need one hit in bohai and reserves could increase by 50-100%