strength, page-7

I know there's been discussions on Arc being taken over by local players, but personally I see a big chance by a Shell or Apache type company, or potentially Chinese or Indian companies.

The Chinese and Indians are agressive in finding acreage, and Arc have this big time in the Canning. Looking at how keenly they've bid on acreage in less prospective and certainly less stable areas, it's hard to imagine that they would not be interested in ARQ.

Much of their acreage selection has been poor,and their international discovery rate since beginning the landgrab has been anything but great. But they have a bureacracy that is telling them to get acreage, and that is what they have done.

No matter which way you look at it, ARQ is very vulnerable at the moment, and would make a good acqusiition for the right company.