Continous disclosure obligation (taken seriously):-"ARC has...

Continous disclosure obligation (taken seriously):-

"ARC has today become aware of preliminary results from the Oil Search Limited operated Al Magrabah -1 exploration well, indicating the primary target to be low to prognosis and without significant hydrocarbons indications. ARC would not ordinarily release this information at this stage because it is insufficiently definite to warrant disclosure. ARC will make a further announcement once it has received further details on the results of the drilling program."

Oh, well. Two more Yemen wells to go:-

"The Block 35 Yemen joint venture, operated by Oil Search (Yemen) Limited has agreed to a two well drilling programme in 2007. A possible third well at Prospect ‘G’ (name to be nominated by the Yemeni Authorities) is subject to joint venture and Ministry approvals. The spudding of the Reeb 1 well, the planned first well was delayed due to inclement weather conditions. As a result the rig was relocated to the second site, the Al Magrabah 1 exploration well, which commenced drilling on 19 April 2007."