consolidation is coming arq cheap as chips, page-18

DB,

Good points. You're making me feel more comfortable.

Tricha,
Never underestimate an oilers ability to squander it all on dry holes, eg TAP, ARQ (04-07), STU to name a few. Both ROC and PSA also do a pretty thorough systematic job of it. AWE will move more towards gas imo, also perhaps more in SE Asia.

I really do not believe they would pay the full price required for the likes of ARQs assets, remembering that no takeover would occur at 1.25, more like 170 to 180 plus.

EL