well supported, page-9

The key point on Arq recently is that the main seller has now finished-if you look at the top 20 list they publish on web site then one seller restructured/sold 2m shares-this pushed arq down.

Speaking to brokers there is still plenty of buyers for Arq amongst both retail/small instos. The oil price certainly helps as does managements excellent promotion of company ( unlike others).

Quentin Cameron in his oil report today mentioned a possible one well drilling in July due to availability of a rig.That may happen but the real action will be in Sept. Arq is a brilliant stock-even at these levels, as its price is fully supported by existing discoveries and has a huge program ahead of it over the next 18m. Remember this Arq will do the next program on existing seismic. Next year the drilling will be the result of extensive 3d seismic. They will follow the Apache/Tap model of swiss cheesing the area as any discovery is profitable due to infrastructure. Cameron believes it costs only $5 per barrel (not sure they are there yet) but that is certainly the cost of incremental discoveries and especially if they use Hovea plant for the Jingemia production. Furthermore beyond oil the co is confident they will find more gas and have a market to sell into.

For me as good as it gets in the oil sector as both a conservative and exciting punt.