stokes bay and valentine, page-9

In spite of their miserable share price, it's fairly comfortable holding a comapny with cash reserves and good cash flows in a bad market. Things turn around market wise, and Arc should do well eventually. Things go bad, and ARC will be taking advantage of their cash position I suspect.

This shake out is likely to provide opportunities, and looking at the trend in "oil - days of supply" on the EIA site, there is little doubt about which way the oil price will head in the medium term in spite of any short term fluctuations.