up 2% ## on buying

Yesterday ARQ released this about the well they are drilling:

"...The core has been shipped for analysis however limited visual inspection indicates that the top of the
Dongara Sandstone is at approximately 2,950 metres measured depth and the interval from 2,950 metres to 2,965 metres has hydrocarbon indications consisting of 90% to 100% fluorescence and moderate streaming cut in sandstone of poor to fair visual porosity. The significance of these shows and confirmation of the reservoir quality of the Dongara Sandstone will be determined once the core has been further analysed, the well has been drilled to its prognosed total depth of 3,040 metres and wireline evaluation is completed. This is expected to take another three to four days The well is located approximately 6.5 kilometres east of the Hovea Production Facility and approximately 1.3 kilometres north of the Mondarra gas field. The well is being drilled directionally to allow flexibility for additional well locations from the same pad. The target bottom hole location is approximately 856 metres east of the surface location."