something is seriously wrong, page-18

Yes, hopefully B.G.

Re the offshore Perth Basin, there was a P.S. article yoo may have seen that said that Arc should be a winner no matter what the outcome as it could pick up the discarded leases for a bargain. They can drill a few offshore prospects from onshore.

At the end of the day the industry average is 1 in 10 successful exploration wells these days and with about that many going down over the next 3 months or so one at least should come in. Whether that's Yemen, on or offshore Perth Basin or Canning Basin, who knows, but you have to be in to win.

Over the last 18 months this company has floundered through lack of exploration success in what at first appeared to be highly prospective oil and gas fields. It was an exceptional performer prior to that, with the same management team in place. They have regrouped and changed the strategy, lets hope that we are in for a return of the good times!