Past year: ▼ 35%(0.30c – 0.80c AUD)
Each one in plain English, with the numbers worked through for a shareholder.
10 Jan 2007drilling progress report● Neutral
Harrison-1 is cased at 12,798 ft with gas sands confirmed by sidewall cores; production testing is planned within 10 days. Scott-2 is to spud in two weeks. Lonesome Dove-1 is suspended and the rig released.
10 Jan 2007drilling progress report● Neutral
Partner Adelphi reports Ilse-1 drilling at 7,186 ft. No new result.
9 Jan 2007other● Neutral
Notice that the quarterly convertible note interest of $0.0504 per note will be paid on 31 January 2007 (record date 24 January). Administrative only.
8 Jan 2007drilling result● NeutralMajor
After a trading suspension, Antares reports Lonesome Dove-1 missed its reservoir sands at 10,500 ft, with only shale gas shows; a sidetrack may follow. Harrison-1 reached 12,805 ft with gas sands, will be completed for testing, and follow-up Scott-2 (67.5%) is committed.
3 Jan 2007drilling progress report● Neutral
Partner Adelphi reports Ilse-1 drilling at 5,325 ft, 2,325 ft in the week, after rig repairs were finished. Target is 17,300 ft. No result.
27 Dec 2006drilling progress report● Neutral
Lonesome Dove-1 reached 10,000 ft, past the 9,500 ft plan. Log calibration suggests the main objective has probably not been reached, so partners will drill a further 500 ft. No result yet.
27 Dec 2006drilling progress report● Neutral
Harrison-1 sidetrack reached 11,500 ft and 7-inch casing was cemented. Lonesome Dove-1 drilled to 10,000 ft and logs are being checked against seismic. Ilse-1 repairs are nearly done; Garcitas Ranch C-1 at 3,150 ft after surface casing.
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.
21 Dec 2006other● Neutral
ASIC approved moving the financial year end to 31 December, with a six-month transitional year to 31 December 2006. Reasons given: align with US operators, ease US capital access, and match peers. The 2007 AGM is due by 31 May 2007.
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.
29 Nov 2006investor presentation● Neutral
AGM chairman's speech and slides: Harrison-1 is a possible new gas discovery, and three more wildcats are expected to spud before year-end. A further Oyster Creek well is planned if Harrison-1 succeeds. Cash was $28.1m at 30 September. Largely repeats known facts.
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.
31 Oct 2006quarterly activities report● Neutral
September quarter report: Harrison-1 is at 11,702 ft toward 12,800 ft. Garcitas Ranch C-1 (23.5%) is expected to spud in November, and Lonesome Dove-1 before end November. Oyster Creek potential is quoted here as 4-12 Bcf.
27 Oct 2006security holder rights change▲ Good
Holders of 99.4% of the convertible notes accepted the reset terms. Only $61,130 is redeemed, leaving $9,938,870 in place at 10% to 31 October 2009. This resolves the October reset thread; funds are for development, not exploration.
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.
17 Oct 2006other● Neutral
Notice of cancellation of 3,750 shares bought back on-market. Routine share-count housekeeping.
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.
