For an income stock, the P/E is still too high. The basic dividend is just about where it needs to be. Natural gas prices are probably high enough that natural gas is back to being a real asset. Oil is heading south. Wait just a bit longer, then accumulate for long term income. W&T really doesn't have much upside nowadays. Their onshore properties are income generators, but are high LOE and not much upside. Deepwater is just plain scary. Wells go off prematurely like W&T's Daniel Boone field. Big announcement when it came on, then no other press releases. It has been online since 2009 and probably hasn't paid out yet. There are reasons why folks sold their deepwater assets to W&T. Limited upside. W&T would do good to get back to it's roots as a bottom feeder scrounging for the last barrel, not a company loaded with highly paid managers and a part-time CEO.