They havent drilled through the edwards yet as it is the deepest zone.
Edwards wells are relatively cheap to drill as they produce from a verticle well.
Eagleford wells are expesive to complete (5-6 m),horizontals,fraccing etc.
The good thing about the order of the zones is that they could produce from the edwards,up the hole to the eagleford,then up again possibly to the austin chalks.
Antares new nothing of the eaglefords producing potential when they ran the seismic 3 years ago.
You know about all of their bad luck in the past well this is called good luck.The eagleford just happens to overly the edwards formation and run paralell with it.
The eagleford is the big prize here,the edwards would make it the biggest comeback of all time.
I have learnt a lot about this stock over the last 2 months and have bought another 360k shares.
This would provide a decade of constant drilling for a company like antares.
well done to those who have weathered the storm and to any new people on board.
all the best.
AZZ Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held