Resourcefull, a development well is meant to succeed. It is a very soft target.
Eremia7's success should result in an upgrade of the Eremia field, but probably nothing major.
The market wants ARQ to make a discovery in the Perth Basin that will result in a significant upgrade in its reserves before rerating ARQ.
ARQ has not been attempting this. So the price has continued to languish.
I have some thoughts on this, probably way off the mark, and I'm certainly not going to put them in writing in a public place.
Resourcefull, a development well is meant to succeed. It is a...
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