harrison 1, page-14

Benmoff,It was a good report and no real surprises.My post#1633285 on 15/3/07 was pretty close to the mark.Now 4 wells on the oyster creek project producing at 5mmcfd of gas would give antares cash flow of US$75000 per day or US$27,375000 per annum.(assumptions based on US$6mcf).That would produce about 8bcf of gas a year.As we have had no further data on this field,the upper pre-drill estimate of 20bcf gas would be gone in a little over 2 years.Good short-medium term cashflow.This senario alone would well and truly replace all of Turkeys previous cashflow.(thankyou 2105).Now on to Garcitas ranch.If there were 8 wells drilled on that field and each well could produce 10mmcfd from both zones(previous well produced this from lower sand only) then this would give antares cash flow of US$100,000 per day or US$36,500000 per year.At this flow rate about 32bcf gas would be produced in 12 months.How big is this field?My opinion it is 150bcf of gas.These are pretty impressive figures although they are hyperthetical.These 2 projects underpin the current market cap in my opinion.So whats left in the tin.Kennedy ranch-228-1 possible 30bcf discovery area A.TWO more prospects in area A 30-75bcf potential.possible increase of working interest to 25%.Area B 50% wi,3 prospects 30-120bcf potential.New taiton 25% wi 40-120bcf potential (well has exibited gas shows already,wireline logs to be run.)Shaeffer ranch-50% wi-lonesome dove failed to intersect gas sands.Seismic data re-interpreted,checkshot run.WEll missed target zone.In my opinion they will drill another well for 30-50bcf potential.2-6 shallow prospects in area for 2-20bcf of gas,1-2 deep prospects for 100-200bcf gas potential.All this in arguably the best gas market in the world.All these targets based on 3D seismic,all in proven hydrocarbon fairways,all convential oil and gas targets,most with large land positions.Antares have the ability to replicate this current success.I personally am looking forward to attending the agm on 7th May 2007 in perth.wishing everyone the best of success.