We know that at least a chunk of this seismic was done around Valhalla and that large structures have been identified there. However, while this is clearly a positive, we want to see some good reservoir before getting excited about additional structures. We know that we have key ingredients such as source, structuring or trapping mechsnisms, and migration, but to date we have not proven good reservoir in any key structures containing significant volumes of hydrocarbons. Hence the Stokes Bay excitement - finally we saw fantasic reservoir, and we just hope that hydocarbons exist there.
ARQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held