Hi SP, What about the massive double bottom, the 1st leg on 11th...

Hi SP, What about the massive double bottom, the 1st leg on 11th Jan and the 2nd of Mar, some would say that was a classic buy signal!

Look at the current exploration activity underway NOW which is only going to increase in coming weeks:

Offshore Perth Basin: Frankland 1 has been spudded and is drilling ahead with 2 more wells to follow in quick succession

Onshore Perth Basin: Beharra 4: Is drilling ahead, seeking substantial gas reserves extension

Yemen: Rig being dismantled & mobilised for start of Al Magrabah followed by Reeb1, seeking a total of ~100 million barrels, Arcs share on success would be 15 million barrels

I don't think it will be too long before the share price firms up to reflect this massive exploration program, it's not like the MD has run off with the his secretary and the $50m they have in cash! The beauty of this situation is that it's undervalued, isn't it our job as serious investors to take advantage of situations like this when the price is low and the downside is minimal?