oil stocks to explode.........., page-11

ARQ - short term play

14th - April Announcement

"ARC Energy referred to press speculation regarding a potential bid by Australian Worldwide Exploration (AWE) for ARC. The Company confirmed it is in exclusive discussions with AWE that may lead to a transaction being announced. The potential transaction remains subject to a number of conditions, including agreement on consideration, completion of due diligence by both ARC and AWE and a number of other matters. ARC has not been provided with an offer in a form capable of acceptance or suitable to be put to shareholders. Discussions between ARC and AWE are ongoing and until there is greater certainty surrounding the terms of any offer it would be inappropriate for ARC to comment further. In making this announcement, ARC cautions that there is no assurance that these discussions will result in any specific transaction."

"The parties expect to be in a position to make a conclusive formal announcement in relation to
the proposal by the end of April."

DYOR