Hard to say on this. ARQ don't normally use words such as "encouraging" during drilling but at the same time the report is dull. Anyway, shouldn't be much more than 3-4 days to complete fishing and logs; hopefully fishing is successful, otherwise another sidetrack just to get back to TD.
Success here would be great, but it's really the next well that is exciting given gas and condensate are there and reserves are large. Just need to see if it flows updip, and what new completion techniques might achieve, but I'd say the odds of success are favourable, whereas Valhalla was always high risk.
ARQ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
