Headline for another article in today's The West Australian (the...

Headline for another article in today's The West Australian (the best weekly newspaper published in Perth, please don't sue me), the 3rd on Arc in as many days, a rare event indeed:

Page 49.

"Arc Energy has reported more promising gas as it approaches it's main target in the Valentine-1 well in the Kimberley. Arc said it had encountered elevated gas levels from an area 200m above the the main target zone, due to be reached in the next few days. Valentine-1 is the first of 20 wells planned to test the gas potential of the onshore Canning Basin, which Arc believes could become a major supplier to the WA gas market. Alumina giant Alcoa this week kicked in $40 million to fund the program and finalised a long-term offtake (sic) deal in the event of a major discovery."