Drilling commencing in two weeks or so, Arq earning 75% by spending $6m, targeting 75 million barrels of oil plus 440BCF of gas. A find of 30 million barrels recoverable would likely double the share price plus revalue their extensive Canning Basin holdings. The gas is highly sought after, Alcoa have put up $40 million dollars in advance to Arq in order to expedite gas supplies.
Also Yemen drilling at Reeb1 about to commence.
The current share price is substantially underpinned by existing reserves of ~20mboe and production.
stokes bay and valentine
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Last
15.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $52.18M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 15.5¢ | 15.0¢ | $70.57K | 455.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 158318 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 934162 | 3 |
View Market Depth
| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| 5GN (ASX) Chart |