re: got in today...broker buy Euroz have a report out today which includes ARQ with the share price at time of writing being $1.53. They rate ARQ as a hold. Euroz acknowledge ARQ current stronge production and the exploration programme recommencing in May this year. However, they view the lack of foreseeable production growth as an issue and have a price target for ARQ of $1.58 per share. This forecast share price reflects the valuation of core assets and has no exploration value included.
I presume that Euroz may have been disheartened by the lack of recent exploration success even though it was based on the interpretation of 3D seimics and that they regard the Yemen acreage as wildcat exploration.
got in today, page-16
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