JV with WGR and interest in ARQ CPC and WGR are both controlled...

JV with WGR and interest in ARQ CPC and WGR are both controlled by Danny Hill and they have a JV which is looking at buying oil prodcution type assets. 5% stake in of ARQ was the first cab off the rank and was basically because they thought it was well undervalued at 47 cents and a broker appraoced them looking to sell HDR's stake. At least they're sitting on a good profit on that one so far. According to the company this is supposedly a passive, strategic interest and they have spent the last few months looking into more direct interests. They are a presumably closer to do doing something useful with that cash then they were a few months ago but haven't heard anything concrete.

I note that there has been a bit of price action in WGR recently and that may indicate something is brewing.

Anyone got any ideas here?

I hold WGR and CPC

Cheers
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