ARQ obviously needs oil reserves, their unknown future oil potential is a negative on the stock.
This is why I don't understand why they haven't made a move on PPP .. I would have thought they should have at least a 5% holding before recent TUI drilling started .. and talking tattersfield.
Their only oil play in the Canning, short term, is Backreef (*). Possible 20-50MMBLS recoverable, easily produced and quickly trucked to any nearby refinery. Yes high risk but cheap to drill ... not much to lose.
NPB seems to be drilled out, oil wise (in quality reservoir) .. I cannot see any other oily ARQ areas except offshore Perth.
Bg. (* = Bg holds ARQ and OBL)
what are we missing ..., page-4
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Last
15.0¢ |
Change
-0.005(3.23%) |
Mkt cap ! $46.96M | |||
| Open | High | Low | Value | Volume |
| 15.0¢ | 15.3¢ | 15.0¢ | $33.35K | 221.3K |
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| No. | Vol. | Price($) |
|---|---|---|
| 19 | 7079983 | 15.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.5¢ | 1634407 | 24 |
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| 5GN (ASX) Chart |