Hi Martin,

I did a little research on oil sand companies P/E.

Here is the list

Exxon 13.86

Oilexco Inc. 25.09

Suncor energy 21.98

Devon Energy 16.01

Nexen Inc 17.37

Petro Canada 10.33

UTS 17.23

Talisman 9.34

So lets take worst case at P/E 9.34 if earnings .45 - .65 that gives us a share price of between 4.20 -  6.07

Share price can only get better as production increases and proven reserves increase.