In principle, a merger of AWE & ARQ makes a lot of sense but I'm a little uneasy about a few things. For one,I'm unsure how things will play out in the Canning in the coming drilling season. If ARQ continues to fund exploration
with little or no result before August merger date will AWE be OK with that? Or will ARQ freeze all new work, including SB & Valhalla re-test until August? Or will it be business as usual with Buru being asked to stump up for past costs (May to August) at the de-merger date? There has been some rather unsettling commentary on EMR thread about delay in planned Canning work until August. Most of the coming dry season will have gone by then, right? And even if excellent gas discoveries are made it looks like Buru won't have the necessary resources alone to get a major development off the starting blocks, so we might be looking at the possibility of stranded discoveries for some time to come.
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In principle, a merger of AWE & ARQ makes a lot of sense but I'm...
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