whats up ?, page-15

re: whats up ? gutfeeling Thanks for the comforting words. Note I'm not complaining, but when I placed my order at 1.74 I didn't think it had much chance knowing the oil drilling was fast approaching. Anyway I'm now proud owner of 110K arq shares. 50K of which I purchased at 10cents pre Hovea. 50K at about 1.77. So all in all I'm OK , just flumoxed by todays trading range. Other 10 cost me something in the middle.

When looking at arq CFPS using average oil price of 51 USD for the Qtr and cost of 20USD per barrel ( on high side). My guess is 4500 BOPD so oil CFPS would be around 34 AUD cents per share based on this qtr results( ps no option dilution considered), This assumes production at Jimigemia of arount 1400 BOPD ( arq share )and about 3000 from Hovea /Eremia ( maybe if gas lift fully functional possibly higher? Price to oil gas flow of 5. Don't forget to add in gas which now include full qtr Xyris. If we assume that gas business covers corporate overheads then PE would be under 5. OK resource life , and oil price is high( how long)is short but those 3D oil wells are close so I can't see us below 2 bucks come late April early May baring some production problems in the qtr.

good luck ( although I don't believe it is needed to those that hold)