E6 flowed 3790 BOPD and presumably they are targeting a similar amount with E7. Say they choke that back to 2000, Arcs share would be 1000 BOPD. At $58 per barrel that's USD$21 million gross revenue to Arc. Not to be sneezed at plus it will upgrade the reserves of the whole field, if it comes in as 5 of the last 6 development wells have.
If the share price does not recognise Arc's potential soon, someone will pick them up and pay for it using Arc's own cash flow, zero outlay, minimal risk and plenty of upside. It would make a great fit with Oil Search for instance who probably wouldn't even bother borrowing the money, just offer 1 of their shares for a couple of Arc shares plus 25c cash ex Arc's own reserves.
new spudding at arq except sp, page-3
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