** will be big in 2005 **, page-2

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Brokers in Perth re-accessed ARQ yesterday . Current performance has caught estimates on the low side . Discoveries in Dongara 31/32 will add ~20BCF and 1-2 mmbbloe . High oil impact exploration program is NOT that far away . ARQ has one big juicy gas target to spud in less than 3 weeks to finish off the gas exploration program . Corybas-1 is said to be in the order of 200-300BCF recoverable, worth possible 60c tops. Thence oilwells back to back.....starting with Hovea-12.

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