ARQ 0.00% 35.0¢ arq group limited

sells 7.5% in wa286p

  1. 7,063 Posts.
    It looks like instead of consolidating the whole north perth basin region and combining efforts to develop the oil, it now looks like companies will concentrate on their own main assets. ARQ will concentrate on onshore areas while ROC has increases it's interest offshore.

    This looks a win-win situation, ARQ will gain short term cash to fund it's onshore exploration program while ROC will gain increased equity in highly prospective acreage.

    The price paid, $10-12M for 7.5% may look cheap on the surface considering it already contains the 20-25M barrel Cliffhead field (valuing reserves at $5/BBL and nothing to future exploration potential) but this is medium term while ARQ has some very prospective short-term prospects that need cash now. L1 and L2 looks far more prospective, In my opinion.

    Plus you must also take into considerating future oil prices.

    Interesting that ARQ have kept TP15P, either ROC wasn't interested or ARQ thinks it has potential. This permit lies east of the Northhampden nose where severe faulting has made finding intact structures difficult. Maybe ARQ feels TP15P could contain simplier single faulted structures like L1-L2?

    As a trader I think this is a plus for ARQ and look to years end with strong interest, plus medium term ROC should benefit with future cash flow and additional discoveries.

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Mkt cap ! $42.74M
Open High Low Value Volume
35.0¢ 36.0¢ 35.0¢ $9.995K 28.14K

Buyers (Bids)

No. Vol. Price($)
3 38539 35.0¢

Sellers (Offers)

Price($) Vol. No.
36.0¢ 12408 1
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Last trade - 10.40am 20/01/2020 (20 minute delay) ?
0.000 ( 1.41 %)
Open High Low Volume
35.0¢ 36.0¢ 35.0¢ 14735
Last updated 11.13am 20/01/2020 (live) ?
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