BRK also an oil company is undervalued as well, take of its cash...

BRK also an oil company is undervalued as well, take of its cash and its P/E ratio is 3.3.
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I asked a broker what he though of SHE and his response was its market cap is to small, guess thats another reason why its undervalued.
As it accumulates cash or invests in new wells the market cap should slowly grow, and if they sustain that then its market cap will be large enough to become of interest to brokers and others.. then the P/E will come into affect .

Im glad they are not going on Capital raise;s as i don't like dilution..and issuing shares to sophisticated investors are generally offered at discounts pushing down the share price.
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David Deloub indicated that 300K was spent on Myall-2 Creek, they did this small investment as part of due diligence to test the operators ,..to see what their capability was. And after a Null result they have not really taken it further. Maybe with new operators we might see some action.