Parex PE Ratio should be 5.0 (Stockhouse is showing it as a trailing PE of 42.7) whereas I suggest it should be based on a projection of current earnings which came in at 25 c Q1 or a projection of $1.00 for full 2012.
I listened to the Q1 Conference Call on the PXT website and have concluded that management is gearing up for the release of some positive drilling results in June from both their Columbian and Trinidad plays. It is obvious that you don't put out positive drilling news in a bad market which we have been witnessing recently.
I noticed that Parex management "blanked" their scheduled presentation at First Energy Conference in Toronto and I don't blame them. If you have nothing knew to report and in this market, why bother.