why did god give dogs fleas

Well the answer to that was to remind them that they are dogs.

However, can any one spot the fleas on ARC?

Yeah most of us have bought in higher and the inconclusive results are as much bad luck as bad management (late arrival in the Canning was bad management and so is their style of information feed).

However, the balance between money in the door and money out the door along with the sustainability of that cash flow, managements conviction to have a go and succeed or fail and get up and keep going along with the potentially huge exploration upside gives her neither fleas nor Dog Status.

If you want to play the Oil and Gas Speculation/Investing game then there are plenty of charlatans out there that you can throw your money at.

Just as an aside there is plenty of talk made of the potential for oil to fall back in price which has some very valid points. However, if you take a look at all the forecasts going back over the last decade put out by all the major energy and resource forecasting organisations from around the world with their vast resources to make such forecasts, you will find that they rarely get the price right.

If ARC manages to have success with Y-2 or Stokes Bay-2 at the Nullara level (Im only giving them a 10% probability and confining the other 90% possibility to my dreams) then she could move to the status of Darling of the Oil Set and quite a few of her JV entourage will follow suit even though they may currently be doing a little more scratching than you would like.

As others have regularly pointed out on this and other HC threads, ARC clearly is not the only beneficiary of success in the Canning and it will be interesting to see who runs the hardest if that success is forthcoming.