Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 July 2010drilling progress report● Neutral
No. 4H flowback is on schedule on a restricted choke, designed to protect reservoir pressure. No. 5H production casing is cemented at 15,336 ft. The rig is moving to No. 6H, with spud expected within a week. No rates given.
30 June 2010drilling result▲ Good
The 15-stage frac on No. 4H is complete and flowback has started. No. 5H finished at 15,336 ft with a lateral over 4,100 ft, longer than planned. The rig moves to No. 6H, with drilling due in about ten days.
23 June 2010drilling progress report● Neutral
The 15-stage frac on No. 4H has begun, the first using 100% ceramic and bauxite proppants. No. 5H found the Eagle Ford at about 10,950 ft with elevated oil-shale readings. No flow result yet.
17 June 2010capital raising announcement▲ GoodMajor
Antares placed 20.5m new shares at 60 cents to institutions, raising $12.3m for Eagle Ford development. The price is a 7% premium to the prior close of 56 cents. It follows the $19.2m placement at 64c in February 2010.
What it means for a shareholder
20.5m new shares at A$0.600 to raise about A$12.3m. That's 7.7% dilution: every existing holder's slice gets 7.7% smaller. If you held A$1,000 of shares (1,667 at the issue price), your slice goes from 0.000676% to 0.000624% of the company. To keep it you'd need 139 more shares - about A$83 at the issue price.
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16 June 2010drilling progress report● Neutral
The No. 4H site is ready for Halliburton's frac of the 4,400 ft lateral, with the crew due in about a week. No. 5H is at about 9,800 ft after surface casing was cemented. No new result.
9 June 2010drilling progress report● Neutral
Production casing is cemented in Frances Dilworth No. 4H, with Halliburton's frac expected in about two weeks. No. 5H is at about 5,100 ft, running surface casing. No new result.
1 June 2010drilling result▲ Good
Frances Dilworth No. 4H finished drilling at 15,483 ft with over 4,400 ft of Eagle Ford lateral, and production casing is being run ahead of the frac. The No. 5H has spud with the F07 rig, planned to reach over 15,200 ft.
26 May 2010drilling progress report▲ Good
No. 4H is drilling the lateral at 13,232 ft after finding the Eagle Ford at 10,870 ft with strong hydrocarbon shows. Target depth is about 14,900 ft. It is the third well of the ten-well 2010 campaign. No flow result yet.
26 May 2010drilling progress report● Neutral
A second Nabors rig, the F07 with 1,500 hp drawworks, is mobilising to Frances Dilworth No. 5H, with drilling expected within a week. No. 5H is the fourth well of the 2010 campaign. This adds a second rig to the programme.
26 May 2010flow test result▲ GoodMajor
Frances Dilworth No. 3H flowed at an initial rate of 941 bo/d and 1,596 mcf/d, or 1,207 boe/d, beating the No. 2H's 790 bo/d plus 900 mcf/d. It is the first Yellow Rose development well and the second of ten 2010 wells. Weekly reporting on the well ends.
19 May 2010drilling progress report● Neutral
Halliburton finished the 14-stage frac on No. 3H, using over 3.7m lb of proppant and about 4m gallons of fluid. Flowback begins, with an initial rate expected in about a week. No. 4H is at 10,200 ft.
12 May 2010drilling progress report● Neutral
Halliburton began the 14-stage frac on No. 3H's 4,650 ft Eagle Ford interval, 14 days after drilling finished. Surface oil facilities are in place and a gas spur is being laid. No. 4H is drilling ahead.
10 May 2010investor presentation● Neutral
Notice of a Jefferies conference call on 7 May featuring management, using the 19 April presentation. The notice describes nearly 19,000 oil-window acres and the 790 bopd initial well. No new information.
5 May 2010drilling progress report● Neutral
Surface casing was cemented in No. 4H at 4,966 ft. On No. 3H, the wellbore was prepared and stage 1 of the 14-stage frac was perforated. Site work continues on No. 5H and No. 6H. No new result.
29 Apr 2010drilling spud● Neutral
Drilling started on Frances Dilworth No. 4H after the rig moved from No. 3H in under 96 hours. The Eagle Ford is expected at about 10,900 ft, followed by a planned 4,000 ft lateral. It is the next well in the 2010 programme.
28 Apr 2010drilling progress report● Neutral
Production casing was cemented across the full 4,650 ft Eagle Ford interval on No. 3H. The rig is moving to Frances Dilworth No. 4H, and Halliburton's frac crew is due in May. Routine progress.
23 Apr 2010investor presentation● Neutral
The general meeting presentation was identical to the 19 April one, so it was not re-released. No new substance.
21 Apr 2010drilling result▲ GoodMajor
Frances Dilworth No. 3H reached 15,735 ft with over 4,650 ft of lateral in the Eagle Ford, longer than the 4,000 ft guided. The company says mudlogging shows exceeded the No. 2H. A 14-stage frac is due in early May, and No. 4H is expected to spud in the first week of May.
19 Apr 2010investor presentation● Neutral
Conference presentation 'A Pure Eagle Ford Explorer & Producer': 276.4m shares, 7.5m notes, market capitalisation about $230m, over 32,500 acres. It repeats the annual report highlights and adds that the No. 4H is due to spud in May and No. 5H in June. Nothing new.
14 Apr 2010drilling progress report▲ Good
Frances Dilworth No. 3H is drilling the horizontal in the Eagle Ford at 11,355 ft, with elevated gas shows and golden fluorescence suggesting oil in the cuttings. These are early indications only, with no flow result yet.
8 Apr 2010other● Neutral
Cover note saying a Patersons research note on the company's reserves and resources is available on its website. No substance in the announcement itself.
7 Apr 2010drilling progress report● Neutral
Frances Dilworth No. 3H is at 9,440 ft, with a logging run planned within 500 ft before the well is steered into the Eagle Ford for a lateral of about 4,000 ft. No new result.
7 Apr 2010other● Neutral
Administrative notice: convertible note (AZZG) interest of $0.0488 per note is payable on 30 April 2010, record date 23 April. No other substance.
31 Mar 2010annual report▲ Good
2009 annual report: proved reserves up 406% to 1,486 Mboe, proved plus probable up 1,309% to 8,155 Mboe, and the share price rose from 5.3c to 60.5c. It restates the 35-well plan and the note buyback to 7.5m notes. A fourth director, Mark Clohessy, is listed; AGM set for 26 May.
30 Mar 2010drilling progress report● Neutral
Surface casing was run and cemented at 4,950 ft on Frances Dilworth No. 3H. Drilling resumes after the cement cures, to about 10,300 ft where logs will be run. No new result.
24 Mar 2010drilling progress report● Neutral
First weekly update on Frances Dilworth No. 3H: drilling at 1,280 ft, with surface casing due at about 5,000 ft. Eagle Ford top expected near 11,000 ft, then a planned 4,000 ft lateral. No result yet.
23 Mar 2010resource reserve update▲ GoodMajor
Reserve and resource evaluation as of 31 Dec 2009 for McMullen, Wharton and Brazoria Counties, using $80/bo and $5/mcf. The annual report headlines proved 1,486 Mboe, proved plus probable 8,155 Mboe and 2P+possible 22,814 Mboe. Detailed tables were truncated.
22 Mar 2010drilling spud▲ GoodMajor
Drilling began on Frances Dilworth No. 3H using the Nabors M34 rig, a planned 15,000 ft measured-depth Eagle Ford well. It is the first of nine wells under the Nabors contract, in the 2010 campaign of ten wells.
5 Mar 2010other▲ Good
S&P index rebalance notice: Antares Energy (AZZ) is among additions to the All Ordinaries index, effective after close on 19 March 2010. The notice is not a company announcement and makes no operational change.
22 Feb 2010capital raising announcement▲ GoodMajor
Antares completed a placement of 30,000,000 shares to raise $19.2m (64 cents per share, calculated), led by Patersons, with a heavy scale-back. It funds ongoing development of the Eagle Ford acreage and adds institutional holders.
What it means for a shareholder
30.0m new shares at about A$0.640 to raise about A$19.2m. That's 11% dilution: every existing holder's slice gets 11% smaller. If you held A$1,000 of shares (1,563 at the issue price), your slice goes from 0.000634% to 0.000565% of the company. To keep it you'd need 190 more shares - about A$122 at the issue price.
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