Interesting that Arq's indicative schedule shows three possible wells after Hovea 4, but I have seen other reports that show Hovea 5, Erimia, and then Jingemia 2 (presumably outside Arc's acreage, but interesting if not). Given the (currently assumed) net pay at Hovea 4, if Hovea 5 goes ahead, hard to imagine not surpassing 5,000 bbls per day.
Looking at the prospect and lead map, it's hard to imagine not finding another 2-3 Hovea's and possibly one bigger one. I think Arq remains very attractive at these prices.
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