Good point BH but I'm a speculator / gambler on exploration...

Good point BH but I'm a speculator / gambler on exploration wells more than a number cruncher, thus my interest in the Canning. I've trusted Eric for many years so must have confidence he knows what he's doing. They have all the details, more than us, so must be in a better position to value AZA. I suspect there are more reserves than stated and the production problems can be fixed.

A broker has calculated a inground value for oil @ $9.30!! that's not expensive. My concern was more related to ARQ having the expertise to handle offshore production in a basin theyre not familar with, although ARQ have gas expertise which might be useful here. If ARQ can secure AZA technical staff that might be a big bonus!

I don't understand why ARQ didn't move on PPP when they were 10c last year, even just an investment would have paid off beautifully by now. If ARQ had snared PPP not only would they have 10% in TUI but also Maitland gas and the old South Pepper oil acreage. It must have been a corporate stranglehold that scared ARQ off?