strategic update, page-7

Cloak,

They would say that anyway wouldn't they.

Yref,

No reason's why the transaction would not occur

Whatever the facts are, Antares has now broken its golden boast of having never failed to complete such a transaction, so the next time it tries to do one, the market will remember its past and price the chances of completion accordingly.

They gave themselves a very long time to find something else to buy with the money, perhaps they couldn't find anything worth while, at an acceptable price to them.

If someone had acted as a go-between I would have put Lynden Energy Corp up as a prime candidate to purchase if they wanted to stay in the Permian Basin among other things.

The production numbers for the last quarter were horrible, especially when you consider how well 2 wells were performing, to get access to that McQ loan facility they are going to have to get production up fast, don't know where from.

Its the total lack of the in-house skill set required, that truly worries me, The Permian Basin is a numbers game as far as the big players are concerned, keep your costs under tight control and you squeeze $ Million more of profits per acre. Antares are yet to demonstrate that they can do this and using 3rd party contracts is not the way to go.

Lets see what plans they actually have and how they intent to keep existing shareholders happy, because if you (we) don't get the chance to buy these loan-notes, if that's the route they choose, then existing shareholders need to revolt, otherwise you (we're) screwed - mark my words.

Just look at what's happened to RFE

Antares will be in debt for quite some time to come going down this development route (especially with Horizontal's at $7.5M a shot - or more like $8.5M+ using 3rd party for everything)

LOTM