Sad state of affairs.This company has not been able to shake off...

Sad state of affairs.

This company has not been able to shake off their rapidly decreasing onshore Perth basin oil production issue. I believe this is what is really weighing down on Arc at the moment.

Sure they have the offshore Perth basin wells to appraise, but the operating costs and simplicity won't be as attractive as their onshore stuff.

It seems until we have closure on the merger, some definitive success in Canning and a material and measurable positive increase in their Wandoo asset purchase, then Arc will continue to be out of favor?

I hold.