ARQ - Arc Energy

oldblue · 20 May 2008

nick2fish said:
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

I agree with your conclusion, nick, although I don't think the Tui production has changed anything. Production was at strong levels before the t/o was announced and a review of reserves had already been foreshadowed, with a stong hint that an upgrade was expected.
The strength of the AWE sp may be more a result of the POO, as evidenced by sp increases for other producers, Woodside, STO, OSH, BPT etc.

Disc: Holding both ARQ and AWE

oldblue · 29 May 2008

Good to see ARQ's sp up another 4% today.
Being partly pulled up by AWE, of course, whose own sp is up 6% today!

nioka · 29 May 2008

oldblue said:
Good to see ARQ's sp up another 4% today.
Being partly pulled up by AWE, of course, whose own sp is up 6% today!

More likely because of it's holding in ADI and the jump in ADI value with the better news coming through on Sugarloaf. ADI up 15% and ARQ holds approx 30% ADI.

oldblue · 29 May 2008

nioka said:
More likely because of it's holding in ADI and the jump in ADI value with the better news coming through on Sugarloaf. ADI up 15% and ARQ holds approx 30% ADI.

For whatever reason the theoretical value of ARQ in the "merger" with AWE has now increased to $1-80.5, comprising .3 of an AWE share ( $1-30.5 ) plus 19c cash and 31c worth of Buru Energy.
Have to think about increasing my ARQ holding!

ARQ - Arc Energy

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