We compare two approaches to photoacoustic image reconstruction from compressed/subsampled photoacoustic data based on assumption of sparsity in the Curvelet frame: DR, a two step approach based on the recovery of the complete volume of the photoacoustic data from the subsampled data followed by the acoustic inversion, and p0R, a one step approach where the photoacoustic image (the initial pressure, p0) is directly recovered from the subsampled data. For representation of the photoacoustic data, we propose a modification of the Curvelet transform corresponding to the restriction to the range of the photoacoustic forward operator. Both recovery problems are formulated in a variational framework. As the Curvelet frame is heavily overdetermined, we use reweighted l1 norm penalties to enhance the sparsity of the solution. The data reconstruction problem DR is a standard compressed sensing recovery problem, which we solve using an ADMM-type algorithm, SALSA. Subsequently, the initial pressure is recovered using time reversal as implemented in the k-Wave Toolbox. The p0 reconstruction problem, p0R, aims to recover the photoacoustic image directly via FISTA, or ADMM when in addition including a non-negativity constraint. We compare and discuss the relative merits of the two approaches and illustrate them on 2D simulated and 3D real data.