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ARQ - Arc Energy

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I don't think the SP pain is specific to ARQ.

Most of the small/mid tier energy stocks are taking a hiding in this market.

 
Nice announcement from ARQ, ROC & AWE.

Their Dunsborough 2 well has found a large oil column by the looks Roc are saying 60 metres so far and still get more core samples to find the true extent of the field.(possibly39api oil)

All the shareprices were positive today so lets hope it keeps up. It looks like ARC'S move by buying the extra 24% of this field will pay off. Time will tell I guess.

Have a read of the announcements for confirmation if you are interested.
 
Nice move up. Looks like they finally got some good news on the exploration from.

Any news on the merger?
 
jovan said:
Nice move up. Looks like they finally got some good news on the exploration from.

Any news on the merger?
Click to expand...

What merger is that?
Not the aborted Anzon business?



Have I dozed off and missed something?
 
Anzon merger?

My opinion is that ARQ are better off without it. They would have had a lot more shares on issue and therefore not as much leverage to exploration success.

Hopefully we will have exciting times ahead with all the wells being drilled over the next few years. There is also really good cash flow happening at the moment with the high oil and gas prices currently on offer.

AWE also look to have good things happening with a lot of exploration and cashflow.

As I said time will tell how it all works out.
 
I don't think there is any question about it. ARQ are better off without Anzon. I'm just intrigued that jovan thinks this proposal is still alive. Or is it some other merger?

 
AWE have put an offer on the table by the look.

Should be good you you ARQ holders. Hopefully you get a counter bid too.
 
Yes , we long suffering ARQ holders could do with some good news. I've held some for around 2 years. If the price mooted in the press $1.58 is the price achieved it would equate to about bank interest over that period for us. There has been much talk of hydrocarbon in the Canning Basin, but nothing much seems to have tested well so far. Or at least that has been the markets view to date. But who knows, maybe some good news from the drill bit or a counter bid might sweeten returns.
 
I sold out of ARQ today for $1.38 average and a slight loss. My buy in price was $1.46 quite a while ago. This share has under performed and is one of the worst I've had in the stable for a while. This won't stop me buying back in at low $1.20s though if the talk of merger / take over continues.

I agree this is oine share it would have been better to keep the money in the bank and forgotten about it for a while. It's all experience, though..

cheers,
 
Hi sanguar, I can't understand why you sold out at this time? Merger talk ,testing Stokes soon and even though Yullero looks like a duster so did Sugerloaf for ADI. Sometimes it pays off to swim against the tide. Oh well you may be correct, so well done, but I don't think ARQ will go to $1.20 again.
 
Hi Nick, you could well be right. I didn't want to lose the chance to regain my paper losses on this share if it slipped back into obscurity again.
This week has been a terrific one for day trading and with the funds freed up by selling my ARQ I have bought and sold several shares this week and I am well ahead.
Basically I let ARQ slide out past my usual stop loss going I went against my trading strategy. I have a list of shares that have cost me directly and in potential profit by working against my strategy. I hbasically had to clear dead wood to allow new growth.

All the best for you in this share. It is still on my radar and if I get a drop, I'll be back in like a flash..

cheers,
 
Im interested in this AWE and ARQ merger in realation to how any announcement from ADI about their SL testing will effect the ARQ SP and in return the SP offer from AWE for ARQ.
The timing of it all will be interesting. In the AWE ARQ merger presentation they value ARQ at $1.59 per share. ARQ has 32%of ADI, what happens to the offer if in the course of things if ADI comes through with the goods? Surely AWE would have to up the offer on ARQ. If im not mistaken, ADI could be worth $1 to the ARQ SP, as talked about at in the beginning of the ADI thread.
There would be a lot of p…..off punters too, if the AWE ARQ deal goes through, only to have ADI to announce that its all go at SL.
ARQ would have to have some idea what they have with ADI at SL by now.
On page 4 of the AWE ARQ merger presentation under key conditions there is a clause..”no material adverse change”….this could mean any added value from ADI?
What do people think of the creation of Buru Energy for the canning assets?
If the merger goes ahead, Buru will have $75 million the bank, but the 3 yr 20 well canning exploration will coast $100 mill. The $40 mill Alcoa down payment will have to be repaid too if there are no gas finds. Brave move for this lil unborn company, but maybe this is a sign in itself that ARQ is sure there is oil/gas there.
I plan to email ARQ and ask them but am also interested in ASF's opinions.....

Comments anyone?
 
I'm with you Cicack, to me the timing is not good given the fact that IF ADI comes through with a Discovery in their SL prospect, the $1.59 per share value will seem insignificant. Add to that the potential that ADI with Yemen & Indonesia , and all of a sudden $1.59 value is left way behind as well as the shareholders.
It certainly would be a tremendous coup for the shareholders, should the Canning be "cracked!"
On the flip side , if there is little or no success then us shareholders will be equally frustrated.

I am kinda hoping that there may be others keen to look at ARQ & perhaps a small bidding war will evolve? Blue sky I know , but there is so much potential of share price appreciation with ARQ in the next 3-4 months , that to give in to the first offer may not be the best result for the shareholders??

I am not qualified to make this call, but I'm sure that Eric would be keen to get the best result for himself & fellow shareholders.

Regards

Bazollie
 
Does dropping 5% on opening albeit on low volume show what the market really thinks of the ARC / AWE merger. I'm a bit underwhelmed myself.
 
pointr said:
Does dropping 5% on opening albeit on low volume show what the market really thinks of the ARC / AWE merger. I'm a bit underwhelmed myself.
Click to expand...

Not much in it really for anyone but the consultants who will extract a ton in putting together the deal....

However, perhaps an arb op here - the market is valuing the new Buru entity at about 43 cents, when according to the announcement it should be worth 73 cents... What is the value of the Canning Basin assets, anyone here got any comparisons to draw? Either way, a long ARC short AWE could have potential!

Cheers
 
reece55 said:
What is the value of the Canning Basin assets, anyone here got any comparisons to draw?
Click to expand...
How much are ARQ’s Canning Basin assets worth? Eric obviously thinks a fair bit and there are plenty of signs that he might be right – a proven hydrocarbon system, some success with early drilling (Stokes, Blina, Larapintine, Lloyd, Sundown, West Kora, Point Torment).

The problem is the Canning has had a tough life. It’s highly faulted and success so far has fallen well short of expectations. The southern part of the Canning apparently isn’t as faulted and there are a number of companies (such as the unlisted Kingsway) that are backing that to hold riches.

The Canning seems to have excited petroleum Geos a great deal – parts of the Canning have been compared to the Devonian reefs in Canada, the Paradox Basin in USA and the Cambrian Ara Salt in Saudi Arabia.

Work is due to commence on Stokes shortly - success will improve the prospectivity of the whole region (but particularly the North) immensely. The porosity in the Nullera is very exciting and successful production from there should see all players re-rated significantly.
 
Hi all,
Called ARQ today to enquire about Stokes testing program. Was told that due to the need to co-ordinate equipment around the Yulleroo drill site testing will probably be pushed back to the Q3.
Garry Jeffreys said that it was a questions of economics and nothing to do with the merger. (I was suspecting otherwise)
Also said the JV partners are fine about it (luckily they are all lightweights)
Oh well, Peter Strachan of StockAnalysis is quite bullish on both drill sites.
The waiting game continues......
 
nick2fish said:
Garry Jeffreys said that it was a questions of economics and nothing to do with the merger.
Click to expand...
Riiiight.

Along with their strong cash position, Stokes will be the asset that sells Buru to investors. It will not be dealt with until this merger business is settled and Buru is spun out.
 
Why would ARQ re-release an old announcement about thier increased holding in ADI, on the same day when ADI has a promising sounding announcement, if ARQ wasnt trying to maybe draw importance to what ADI has at SL?
Maybe ARQ knows what they are onto at SL and are trying to draw attention to that. If that results in any substantial ARQ SP increase, may also mean that AWE may have to re-nego an offer for ARQ? IE; the $1.59 per share offer with 32% interest in ADI with what they are onto at SL is a bargan basement price and ARQ wants a better offer?

Comments Anyone?

On the cover note of the announcement is said that it had nothing to do with the AWE merger.......just like the delayed testing of stokes bay has nothing to do with the awe meger, Buru birth......i guess. mmmmmm

Also posted on ADI thread....
 
I really don't think ARQ will be going for a better offer, more likely worried that AWE will be thinking of a sp offer reduction, given their strong sp climb due to strong production at Tui.

It must be admitted that at $1.59 is at the lower end of most broker (and ARQs) valuation, however the market values ARQ much lower.

Certainly looks like the ARQ promo machine in action but IMO a defensive play as opposed to offensive
 
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