GeorgeIV,
Re the P/E, I agree, and the next results should be sparkling given the increase in production announced just before the interims!
JKX are now producing 12,000 BOEPD, an increase of around 80%, and they should be able to export again soon, maximising the revenue received.
Then we have the exploration projects in Ukraine, Bulgaria, Italy, Turkey, and not forgetting offshore Georgia!
The chart doesn't tell the full story here IMO.
If it falls any further I'll be topping up!