market is saying...higher bid coming, page-12

don't kick youself too much - I have loved this stock for two years and got shaken out of half at $1 to $1.1 not long ago - thank goodness i bought 0ne qrtr of my original holdong back at 1.4 not long after selling. I did out a fair few at 5.3 to 5.4 but there is a couple of parachute clauses in the fine print and a profit is aprofit.

MUZZA - DON'T RULE OUT POSSIBILITY OF SHELL JUST TAKING PES AT THIS STAGE AND CONTINUING ON WITH THE JOINT VENTURES. They have a fairly big holding in PES. Arrow has huge potential -especially in undeveloped leases and internationally; but its gasflows where they have developed to date have not been great - Pure's look like they have some of the sweet spots and plenty of acreage.