ARQ actually has a 30% stake in the Backreef-1 well play of OBL through the subsidiary, Terratek Drilling Tools, that they acquired from Golden Dynasty - although Golden Dynasty have an option to have 10% of that 30% back.
Eric has been quiet about this play until now when the 'pointy end' seems to have been reached and OBL, which has some of the highest leverage of shares to potential barrels on the ASX, has recently gone public with some clever geo and geophys work from a highly experienced team - delineating new and different play types for the Canning.
Eric may even feel obliged to give his medal back to APPEA if OBL 'crack the Canning' first. Egos, not just barrels, seem at play here. Let's hope all are winners however.
ARQ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
