27 Dec 2006drilling progress report● Neutral
Partner Adelphi reports Ilse-1 rig repairs are largely complete, with drilling due to restart within days. No new well result.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
20 Dec 2006drilling progress report● Neutral
Harrison-1 sidetrack is at 10,466 ft, with casing planned at 11,500 ft. Lonesome Dove-1 cased at 7,448 ft; Ilse-1 set surface casing with rig repairs continuing; Garcitas Ranch C-1 at 2,389 ft. No results yet.
18 Dec 2006drilling spud▲ GoodMajor
Garcitas Ranch C-1 (Antares 23.5%) spudded 16 December to 13,000 ft in 30-40 days, following the 25 October deal. It is 80 ft up-dip of a 1987 well that flowed 10 MMcf/d. Potential 45-75 BCF; minimum cost about USD 1.3m under a fixed turnkey drilling cost.
13 Dec 2006drilling progress report● Neutral
Harrison-1 is at 7,471 ft after a short length of drill string was lost and bypassed. Lonesome Dove-1 is at 5,491 ft; Ilse-1 at 2,957 ft during rig servicing. Garcitas Ranch C-1 spud is due within a week.
6 Dec 2006drilling progress report▼ Bad
Harrison-1 sidetrack is at 7,275 ft with difficult conditions; the bit has stuck repeatedly. Lonesome Dove-1 is at 2,055 ft, Ilse-1 at 1,960 ft. Garcitas Ranch C-1 spud is now due in 7-10 days.
5 Dec 2006drilling spud▲ GoodMajor
Lonesome Dove-1 spudded 4 December at Shaeffer Ranch (Antares 50%), planned to 9,500 ft in about 21 days. The prospect is rated at 30-50 BCF, 3-5 BCF per successful well. Exposure is USD 750,000 dry or USD 940,000 completed. First well on the 3D seismic.
4 Dec 2006drilling spud▲ GoodMajor
Ilse-1, the first well on New Taiton (Antares 25%), spudded 1 December to a planned 17,300 ft, about 60 days if trouble-free. Mean potential is 40 BCF. Dry-hole exposure about USD 1.2m, plus USD 0.4m if completed. This ends the long wait for a spud.
4 Dec 2006drilling spud● Neutral
Partner Adelphi (25%) re-releases the Ilse-1 spud news for New Taiton, with the same details: spud 1 December, 17,300 ft target, 40 BCF mean potential. Confirms Adelphi's 25% and Antares' 25%; nothing new for Antares.
29 Nov 2006drilling progress report● Neutral
Harrison-1 sidetrack is drilling at 6,340 ft. Lonesome Dove-1 now has a replacement rig and is expected to spud early next week. Garcitas Ranch C-1 still due within two weeks; Ilse-1 (New Taiton) rig is mobilising for early December spud.
22 Nov 2006drilling progress report▼ Bad
Harrison-1 lost drill pipe in fishing, so the operator cemented and began a sidetrack at about 5,100 ft; it is now at 5,200 ft toward 12,800 ft. Lonesome Dove-1 spud is delayed by rig damage to no later than year-end. New Taiton's Isle-1 is due early December.
15 Nov 2006drilling progress report▼ Bad
Harrison-1 is freeing stuck pipe after a cement plug was set to control the gas influx, ahead of a sidetrack to 12,800 ft. Lonesome Dove-1 is due about 19 November; Garcitas Ranch C-1 within two weeks.
8 Nov 2006drilling progress report▼ Bad
Harrison-1 took a significant gas kick at 12,453 ft on reaching the main target, and the drill string became stuck during well control. Operations are under way to free it. Lonesome Dove-1 is due about 19 November; Garcitas C-1 within two weeks.
1 Nov 2006drilling progress report▲ Good
Harrison-1 is at 11,880 ft; the Frio came in about 70 ft high and the first sand gave an encouraging gas show. The main objective is expected within days. Lonesome Dove-1 spud remains mid November.
26 Oct 2006farm in farm out agreement▲ GoodMajor
Antares takes a 23.5% interest in Garcitas Ranch C-1, a 13,000 ft Wilcox gas well in Victoria County, Texas, operated by Hollimon Oil. Potential is 45-75 BCF; minimum commitment is about USD 1.3m. Spud is expected within two months.
25 Oct 2006drilling progress report● Neutral
Harrison-1 is at 10,435 ft, with the primary target expected within 7-10 days. Lonesome Dove-1 at Shaeffer Ranch (Antares 50%) is planned to spud by end November, to 9,500 ft; exposure is USD 750,000 dry hole, USD 940,000 if completed.
18 Oct 2006drilling progress report● Neutral
Harrison-1 is drilling ahead at 9,051 ft toward 12,800 ft. No results yet.
11 Oct 2006drilling progress report● Neutral
Harrison-1 ran casing to 5,135 ft and is drilling at 6,315 ft toward 12,800 ft. No results yet.
4 Oct 2006drilling progress report● Neutral
Harrison-1 is drilling ahead at 4,990 ft toward a planned 12,800 ft. No results yet.
27 Sept 2006drilling spud▲ GoodMajor
Harrison-1, the first Oyster Creek well (Antares 75%), spudded 26 September 2006 after months of rig delays. It tests the lower Frio with 4-20 BCF project potential; minimum commitment is about USD 2.2m.
30 Aug 2006drilling progress report▼ Bad
Kelln 94-1 was fracture stimulated and is still flowing back fluids; success will take a few more days to judge. The Harrison-1 rig is having lost-circulation problems at its current well, delaying the spud further.
23 Aug 2006drilling progress report● Neutral
Kelln 94-1 is connected to a pipeline, with fracture stimulation planned this week. The rig for Harrison-1 is still finishing a sidetrack at another well; the Harrison-1 location is ready.
16 Aug 2006drilling progress report● Neutral
Kelln 94-1's Atoka zone is perforated, with fracture stimulation and testing planned. Ellis-2 is now producing about 18 bbl/d oil and is classed as a producing Des Moines well. Harrison-1 is still awaiting a rig.
9 Aug 2006drilling progress report● Neutral
Kelln 94-1 reached 10,400 ft on 3 August; logs show the Atoka present but slightly thinner than Kelln Trust 5-1, and a test program is being prepared. Ellis-2 is producing 20-40 bbl/d oil. Harrison-1 is still waiting on a rig.
2 Aug 2006drilling progress report▲ Good
Kelln 94-1 (Antares 19%) is drilling at 9,800 ft toward 10,400 ft, with strong oil and gas shows. Ellis-2 is re-completed and pumping. Harrison-1 is still expected to spud in August.
26 July 2006farm in farm out agreement● NeutralMajor
Kelln 94-1 spudded 23 July (Antares 19%). Antares farmed out 50% of Section 9, Ellis County, to Mewbourne, which funds 62.5% of the well; Antares keeps 46.3% and a 3% override. Ellis-2 was re-completed to the Des Moines. Harrison-1 slips to August.
19 July 2006drilling progress report▼ Bad
Kelln 94-1 (Antares 19%) is expected to spud around 20 July. Oyster Creek's Harrison-1 spud slips to the end of July because the current well has had minor delays.
12 July 2006drilling scheduled▲ Good
Antares (19%) and Mewbourne pool acreage for the Kelln 94-1 well in Lipscomb County, Texas, offsetting the Kelln Trust 5-1 well, which is producing over 1 MMcf/d. Spud expected shortly; Oyster Creek's Harrison-1 still awaits a rig.
5 July 2006drilling progress report● Neutral
KMF 228-1 suspension is complete and the rig was released on 3 July. Shaeffer Ranch seismic processing is complete and interpretation continues; Harrison-1 at Oyster Creek is still expected mid to late July.
3 July 2006drilling result● NeutralMajor
KMF 228-1 was suspended for possible re-entry. Evaluation shows four potential gas-bearing reservoir units, but results were not conclusive enough for all partners to fund further casing. Not a declared discovery or dry hole; the outcome stays open.
28 June 2006drilling progress report● Neutral
KMF 228-1 reached 18,200 feet on 26 June and is being logged. Shaeffer Ranch seismic processing is about 95% done; Oyster Creek's Harrison-1 spud is expected mid to late July.