The key is the fact they will be spending the hiatus doing...

The key is the fact they will be spending the hiatus doing further 3d seismics (dont you love 3d). If they come up with similiar targets youd think that Org may then act.

Do not think Tap will go there again after having their nose bloodied a bit. Tap however dont need Arq as Woollybut about to come on stream as well as the multiple drilling program they have.

Euroz have come out today and valued assets at 90 without blue sky. They are probably the cleanest oil producer in that any increase in oil price is absolutley reflected in its revenue. 20 other targets-if 10 are live ones and then only 3 come in then plenty of value still in stock.

Also Blackgold those good judges at HDR sold all their ARQ shares (7.7m) at 47c mainly to parties assoc with cpc who then onsold them in the 60s. Fortunately that holding is in other more numerous hands.

On Leafcutter with hdr and Buy they are targetting 16m of oil -Eremia will do wonders for Buy coming into that program which prior to Eremia the market, due to Twin Lions etc, would have yawned.

Finally if I had to pick a group-other than Org- to take out Arq it would be Apache -remember Org do very little on this area other than turn up to the very well run meetings of Arq and receive the cheques and occasionaly write one-their focus needs to change a little to think about taking Arq out-Apache are sniffing around up the northern region and remember they run a very very efficient operation in the carnarvon and know how to swiss cheese prospect. It would be ironic if Apache got ARQ after Tap failed.l