directors contempt towards shareholders , page-32

Ifino,

No problems, Everyone's entitled to an opinion.

I'm sorry to hear that you suffered such a massive loss.

In all honesty, I could tell you what I believe is wrong with the company, but I'd get banned for doing so, so won't.

You'll have heard the term "control freak", Antares has an "information control freak"

I've not been an investor in the company as long as you have. They have no real oil people running the company. They need at least 5-10 not just a couple.

They got lucky in the Eagleford, just happened to have leases that covered that formation at the right time in pretty much the right location, while going for an Edwards play. I too looked at Aurora & the other Sugarloaf partners and failed to move over.

Personally they would have been better sticking to the Eagleford, but they didn't. Sold out at an ok price at best.

The move to the Permian, in some ways was a good move, but only if you have the right strategy. Sadly Antares doesn't have that strategy and by the looks of it never will.

The Permian is all about cost's, because you are just repeating the same process time and time again. The individual profit on a single well is not that great, its the cumulative effect that brings the rewards.

To achieve that mean keeping your costs down, to do that you can't use 3rd party drillers or frac crews all the time. You need to develop your own, just like Pioneer did. They complete each well at least $400,000K cheaper than Antares maybe $600,000K or more. Over 1000 wells that's a $400-600 Million saving, all of which would go to shareholders.

As for JC, losing out your kidding yourself. Yes he has lots of shares, most of which he got at a lowish price. But your forgetting the $600,000 interest free loan the company gave him years ago, or the absolutely massive salary he gets. Over $600,000 a year basic salary now, for what? then the bonuses and everything else on top of that. Luxury lifestyle at shareholder expense.

Just to put that in perspective, that is more than 2 times the salary the UK Prime Minister gets for running the country.

Also one years salary more than covers the cost of purchasing all of his shares. Shrewd for himself maybe.

The last thing I'd bear in mind is the loan notes, they represent far better value than the ordinary shares. Which now show's how big a mistake they made in changing the terms of the loan notes, a blunder they will find hard to rectify.

The whole board needs replaced.

Take care

LOTM