I think there is plenty of upside if you are prepared to...

I think there is plenty of upside if you are prepared to hold.
Amazed where it is trading at with oil at $90/barrel

-PE ratio of 5 at the moment (this is based on 2006 oil prices).
-OPEC have basically come out and said get used to 80-90 a barrel
-small caps have been hit harder
-doesn't need to dilute & pays dividends
-20+ years of reserves
-USR drilling showing a bit of promise, will know more in the next month or two
-gas side in the next year

Market has overdone it.