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Latest article on ARC oil & gas

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    Here is the link to the article from thier web site


    Anybody want to guess at the recoverable reserves for Hovea now that number 3 has come up trumps.

    I would conservativily guess ( it is my educated guess based on ARC's previous assessments of Hovea) around 10,000,000 barrels of recoverable oil which would have around net value to them of around 1.15 AUD per share. Note this nett is based on oil at 28 USD , pod cost 10 USD, exchange 0.54. Hence capital needed to develop the find + admin still need to come out of the equation although the capital part may be small.

    Interested in the thoughts of others. Based on the recent success and the upcoming yr end drilling I guess the stock could get to 80 cents if we don't have a meltdown in the USA.

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