Fortunately  MEI is not as overvalued  as TOU, POU, PEY  and  few other  nat gas  weighted  producers  which are  rather overvalued  as  the  recent  article  in SeekingAlpha   points  it  out

 

http://seekingalpha.com/article/960641-are-these-4-u-s-based-natural-gas-weighted-producers-a-buying-opportunity

 

 
 
TOU, POU , PEY  could  be  good  short  candidates too.
 
Either  way, MEI  should  increase its  oil  portion  though  as  the  current  valuation  of  $60,000/boepd  (57%  oil and liquids)   is  not  cheap. MEI  has  the  same  valuation  like  SCS  although  SCS  has  80%  oil.