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ARQ $3.16

Hovea-2 future

  1. BlackGold

    7,063 Posts.

    Hovea-2 now drilling down to basement, might be a nice surprise in basement wash? Then it's onto Dongara sidetrack. ERic seem to imply oil target will be smaller, although didn't indicate by how much, "..due to the current interpreted positon of the fault .. ".

    If High cliff had contained oil, ARQ could have easily hit $1 but at the location, high on the crest it contained gas. Whether there's a possible oil leg lower down the section is open to question, although unlikely. I wonder if H2 sidetrack should be deepened to intersect the highcliff?

    If dongara section contains gas! then ARQ could be hit hard although this is unlikely according to data from H1. Oil is where the money is, gas needs to find markets, which is the reason for the fall.

    Quite a few oil structures still to drill and now an unknown number of highcliff prospects have been enhanced .... maybe the reason for the huge buyer at 40c! If H2 doesn't gas out, future prospects looks very good.

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