Doesn't look too flash to me. Agree wrt imminent selloff, but market will be wrong, as also agree with PS quote posted above.
The market was hoping for 30 mmbo.
GIP of 60 to 90 bcf a huge dissapointment to the JV, with perhaps I guess 40 to 70 bcf recoverable. If there's a lot of condensate great, otherwise the economics could be marginal.
Still provided it is economic, my guess is this will be worth more to ARQ than 6% of an oil discovery. With such a small field there will not be the luxury of a greenfields gas plant, the JV will be keen to utilise ARQs Dongara facility. Huge benefit to ARQ even if margial for the JV imho.
EL
article in resource stocks, page-4
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