Total proved reserves were 15K and the SP was about $18. Now, the total proved reserves are 18K and the SP is $14.5. I think it has been a bit overdone. They didn't pay a div till late in 2011. In 2012 the div was in the .50's and the SP was about $24. Now the div is .60 and the SP is $14.5. What this is all about is frustration with SD and Tom Ward. And bashers/shorts have exploited that frustration to hammer the stock. I am new and certainly don't know all the facts, but that is what it looks like to me. In spite of TW and SD problems, PER is way undervalued.