Hi Folks,
Been out of ARQ over a year, watching as the bad luck just got worse and worse, and their exploration was so narrowly confined. Had been in for the long haul too.
Back in this morning post Dunsborough. Good signs that the bad luck has run out, strong potential for incrementally more than replacing reserves, good WA gas, and now gas tolling potential, seem to have cracked the offshore basin code, and possibly onshore again with Drakea, diverse exploration outside the Perth Basin (Bass Basin, Carnarvon, Yemen).
I prefer to pay a little extra to buy at a lot lower risk, and imo ARQ has been greatly derisked with the last 4 exploration wells all resulting in discoveries, whether commercial or not.
EL
dunsburough a goer, page-8
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