the hunter becomes the hunted, page-4

Doubt it Swatchy. I think it's the run of ambiguous results amongst other things that have pushed Arc's price down, and that low share price makes them vulnerable. I think they've told us what they know, are clearly hopeful, but simply don't know the result yet.

But I think Arc are one of the buys of 2008, and expect them to be more than double this price by year's end. Producing plenty of cash, 2 rigs drilling onshore Perth Basin this season, likely 3 wells offshore Perth Basin with high chance of success,and the current Canning drilling.

Around 16 wells this year is not shabby considering 9 of them are in proximity to discoveries or are PB appriasals, and the rest are big Canning targets. Great mix, and not many companies the size of Arc, with Arc's cashflow are in a position to drill numerous prospects that can still cuause a multiple jump in the share price. i.e. at current prices, they are providing the opportunity for returns normally associated with a pure spec exploration company, yet they have the solidity of a good producer at this price.