** org merger **, page-3

Actually, in the first half results, ORG talks about Jingemia, saying that they expect to maintain production in line with their targets. This is the first time I've heard ORG talk positively about anything in the Perth Basin and the first time they've put such an emphasis on those assets as a part of their results.

This indicates a change of sentiment inside ORG, a realisation of the basin's potential perhaps, which does not bode well for ARQ's quest to purchase ORG's Perth Basin assets. That's my opinion anyway. Suits me fine. I'd like to see ARQ expand out of the basin, especially considering Yemen, which ARQ is now trumpeting was essentially just scraps from the VOY merger (albeit highly prospective scraps!!).

ARQ in its own right has made no substantial move outside the Perth Basin or into downstream activities. Why not? because the company is holding on to shareholders funds and waiting for a 'shakeout,' which may or may not ever come, what if oil hits $100 a barrel? A good strategy??? Personally, I doubt it, time will tell.

Also, in relation to an on market buy back, even if ARQ instituted such a policy, there would be nothing to stop them reissuing shares to fund any acquisitions they made down the track. This is my take on the situation, feel free to agree or disagree.

Do your own research.