lonesome dove sue gerkin benmoff, page-6

Benmoff,a couple of interesting things I picked up from the annual report.

1)This is quoted from the managing directors report.
I forsee a number of additional wells to be drilled across our portfolio and new seismic being aquired over over our yellow rose project,AS WELL AS AQUIRING PRE-EXISTING SPECULATIVE SEISMIC SURVEYS TO EVALUATE.
As antares have a very strong technical team it appears that they are going to deliniate and become operator of their own projects.
I see this as a positive moving forward.

2)Also from the managing directors report on New Taiton.In the pre-drill reports up to this annual report antares promoted only the wilcox B & C sands as prospects for this well.
In the initial report for this prospect they stated that there was wilcox A,B and C sands as prospects.
Now they had good gas shows at shallower depths in this well that they reported "may well be commercial,but are not a pincipal target".
Now they had a 70ft gas show betwen 14550-14620ft.
QUOTE "this is tentatively interpreted to be the secondary upper wilcox meek sandstone target which has a mapped reserved potential of 20BCF gas".
Now they drilled to a depth of 17000ft where they intersected between 10-50ft of the lower primary zone.Due to the over pressured environment drilling was discontinued.
In my opinion they have intersected good gas in all 3 resevoirs although they have some technical issues to overcome in the lower zone.
The only disappointing result for this well is that their ultimate net revenue interest is only 13.75% after payback when the operatator resumes their interest in the well.

3) I will be attending the AGM on 7th May.
I will endevour to gain a slice of Howards time after the meeting,so I can ask him some questions on behalf of other posters if you like.
I can also drink your share of the companies beer and eat as many prawns as I can whilst taking in the view of the swan river.

all the best.