directors contempt towards shareholders , page-21

Latest Production data is available for of the wells


Robinson No1 in December produced 6,948 BO & 27,150 MCF and in January produced a mere 994 BO & 1,956 MCF of gas, in Feb 926 BO & 3780 MCF.

SLKT in Jan, all of 1,200 BO, Feb 1,021 BO & 791 MCF
Robinson No2 in Jan 104 BO, Feb 808 BO
Barnes No 1 none in Jan listed (maybe an error), Feb 106 BO 406 MCF
Debnam22 in Jan 189 BO & 226 MCF of gas, Feb 579 BO & 786 MCF

Cozart 19 had similar levels of production over the 2 months (Dec & Jan) 1,827 BO & 2,352 MCF, Feb 1,594 & 2,382 MCF

Cozart 11 (one of the wells that justified the change of plan to No Sale) all of 974 BO.

So the data tells us, Debnam22 is not a very good NS well. Cozart 19 after more than 1 year in production is much better than the new Cozart 11.

There is nothing in the data to justify, what was said by the dircetors

"Antares has now had over 18 months experience working with the Northern Star project since spudding Cozart 19 No. 1. This time spent gathering data has proven invaluable when applied to the latest three Northern Star wells being Debnam 22 No. 1, Cozart 11 No. 1 and Pettaway No.1.

Antares last traded on Friday, 24th January prior to being in a trading halt for two days and voluntary suspension for four days allowing Antares to maintain a fully informed market. During this period, Northern Star wells were completed to sales under the hands of many contractors and the observation of casual observers. A trading halt, voluntary suspension, a public holiday and two weekends facilitated eleven days for the Board of Directors to gain as much insight as possible from limited production, during a very limited period of time. This informational insight was then compared to all historic data both that of Antares as well as industry based.

The Board of Directors having used all available time and information arrived at the conclusion that the existing Northern Star operational success is repeatable."

No data yet on the Pettaway well, however there is nothing of note on the other 2 wells.

Perhaps that's why there is a golden silence from Antares, instead of having a fully informed market for the last 8+ weeks.

Total contempt continues.

I'm sure those with rose tinted glass will manage to put a positive spin on the factual data.

LOTM