merger discussion update, page-3

I think this would work at today's price, but I really can't see today's price being available to Nexus at a point in time when this could occur. I expect the Perth completion of the ARC/AZA transaction, along with Perth Basin offshore drilling success to be the catalyst to move ARQ, and beleive once it moves, it will do so fairly quickly, as many appear aware of the intrinsic value here.

Of course, offshore PB success is not guaranteed, but it is relatively low risk, and then we quickly move on to the Canning again, where any success will have a significant impact.