27 June 2006drilling progress report● Neutral
KMF 228-1 reached its target depth of 18,200 feet; wireline logs and formation testing are under way. Results are not yet known, so the outcome remains open.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
21 June 2006drilling progress report● Neutral
KMF 228-1 is drilling ahead at 16,130 feet, toward the 18,200 feet target.
14 June 2006drilling progress report● Neutral
KMF 228-1 liner was re-run, set and cemented at 13,415 feet after the earlier stuck liner; the well is drilling ahead at 13,680 feet.
7 June 2006drilling progress report▼ Bad
At KMF 228-1 (13,415 feet), the 9 5/8 inch liner became stuck while being set, was retrieved, and is being re-run. A minor operational setback.
31 May 2006drilling progress report▲ Good
KMF 228-1 is at 13,415 feet, preparing to log and set a liner. Shaeffer Ranch seismic acquisition was completed 25 May, with initial processing confirming prospects.
26 May 2006farm in farm out agreement▲ GoodMajor
Antares signs a participation agreement with Slawson Exploration to take a 75% interest in the Oyster Creek prospect in Brazoria County, Texas, testing a 13,000 ft lower Frio well. Potential is 4-12 Bcf; minimum commitment about USD 2.2m; spud planned July 2006.
24 May 2006drilling progress report● Neutral
KMF 228-1 intermediate casing was set at 12,115 feet. Shaeffer Ranch seismic acquisition finishes the next day, with initial test processing described as excellent quality.
17 May 2006drilling progress report● Neutral
KMF 228-1 is at 12,050 feet, drilling to intermediate casing point. Shaeffer Ranch seismic is about 77% complete.
10 May 2006drilling progress report● Neutral
KMF 228-1 is at 11,500 feet, replacing the drill bit. Shaeffer Ranch seismic is about 70% complete, still expected to finish by early June.
3 May 2006drilling progress report▼ Bad
KMF 228-1 is at 11,297 feet, with metal left in the hole from a stabilizer being milled out. Shaeffer Ranch seismic is 51% complete, now expected to finish by early June.
26 Apr 2006drilling progress report● Neutral
KMF 228-1 is at 10,525 feet, still drilling toward 18,200 feet. The Shaeffer Ranch seismic survey is about 45% acquired.
19 Apr 2006drilling progress report● Neutral
KMF 228-1 is drilling ahead at 8,650 feet. The Shaeffer Ranch seismic survey is about 40% complete.
12 Apr 2006drilling progress report● Neutral
KMF 228-1 (Antares 5%) is drilling at 4,042 feet toward 18,200 feet. The Shaeffer Ranch 3D seismic survey is about 20% acquired, with the first 10% of data in processing.
4 Apr 2006drilling spud● NeutralMajor
The KMF 228-1 well in Kenedy County, Texas, spudded 3 April 2006 and should take about 80 days to reach 18,200 feet. Antares holds 5%; Santos USA operates. The unrisked potential is 225 Bcf, but the company calls it high risk.
31 Jan 2006farm in farm out agreement▲ GoodMajor
Adelphi Energy, announcing under a letter of intent, will take a 25% interest in the New Taiton gas prospect in Texas, with Antares also taking 25%. Mean potential is 40 BCF; drilling is expected in the first half of 2006. This is Adelphi's announcement, not Antares'.
31 Jan 2006farm in farm out agreement● Neutral
Antares lodges an extract of Adelphi's announcement on the New Taiton prospect, in which Antares holds a 25% working interest. Mean potential is 40 BCF, with drilling expected in the first half of 2006. Largely repeats the Adelphi release.