It's interesting to note that Arc has only recovered about in...

It's interesting to note that Arc has only recovered about in line with it's peers, up ~3% in the last 10 days. I doubt that they are drilling such high impact wells which means there is really not much fat in the share price. It should lead to a blow out in the price if they discover anything worthwhile but also might prevent a significant slide on a negative result.

Given that the first well is evaluating a previous strike you would think the odds are in our favour.

I had to sell a few this morning to cover taking a real loss on my shorts (ouch!), I can't believe the crisis is over, the fed lending to big boys at 4% to prevent them taking a loss on untradable securities is not going to fool anyone for long. The only move they have left is to lower the actual fed rate then down goes the $USD and imports from the rest of the world with it. Cars sales are already well down and mortgage defaults have increased 93%, hardly the stuff share market booms are made of IMO, then again looking at today, I could be wrong!