valentine is the last roll of the dice, page-21

Hi jembsb

Frankland works for ARQ, not so good for partners as ARQ control gas infrastructure onshore.

Dunsburough I would like to see what the oil quality is, good news all the same but can it be NPV positive?

CB - ARQ being conservative and only drilling well close to the seal road in the Fitzroy Trough, the Pictor discovery very interesting and the rest of the Broome ARCH etc looks good to me, just have to be concerned about late stage structuring. Looks as if thats next years play ground.

You also have to remember they do not control the whole of the Broome Arch or the Southern Canning (the major oil play in my view). Their main land holding is Fitzroy Trough and it surrounds.

cheers

PC43