re: entropylord Supertramp,Fair enough. I had same view on ARQ...

re: entropylord Supertramp,

Fair enough.

I had same view on ARQ targets until the last series of wells, and not understanding geology and prospectivity am a little nervous until they actual deliver. Suspect you will be proven correct on that though. I am currently prepared to wait, and consider reentry after resumed success (paying more - sure, but for real oil, not just expectation).

Regarding STU's HY profit, I looked at it completely differently. I considered the huge exploration writeoff as an abnormal, given the high exploration activity, and really an investment in growth. Therefore I considered the underlying profit from operating fields as very healthy.

Anyway I consider both well managed companies, and there is no certainty which will prove the better investment. Neither are currently overvalued IMO.

Entropylord