Think it likely that Stokes bay bottom target will have to be redrilled ie sidetracked so it can be tested. Formation obviously damaged by previous massive mud loss. As time has gone on that mud may well have solidified to a certain extent making recovery of that portion of well unlikely. Hopefully well re-entry costs won't be too high. Stokes Bay still looks very prospective to me, if bottom oil target eventually proves non productive we still have the shallower gas shows which have a good chance of success. Delay is disappointment to ARQ/AZA i'm sure, who were probably hoping for Stokes Bay result to help in recovery or their share prices support ARQ/AZA merger process. See no reason to sell on this news though, the patient may end up being well rewarded.
ARQ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
