EarningsAs we had earnings of 3 cents a share in Q3 on 5900ish barrels of oil per day production, we should be a virtual lock to make another 3 cents for Q4 on 6400ish barrels of production.
So 2013 total should be 10 cents per share roughly. Giving a P/E ratio of 3.45 as of today's close.
And if we keep production at the Q3 and Q4 rate, or even higher with the new discoveries announced today, then I'd expect 2014 earnings of at least 12 cents a share. Which would be a P/E of under 3.0 if the share price doesn't rise.
So what are we doing with all of these earnings? I vote for a special dividend to hand it all back to the share holders. Or at least the implementation of a monthly dividend.
Still not understanding why the company isn't spending more on drilling for 2014.