Ann: Yellow Rose - Operational Update , page-7

Antares is pleased to announce that Pioneer drilling rig No. 11 is currently tripping out of the hole for a
new bit in preparation of drilling the Frances Dilworth No. 2 to total depth. The current depth of the
wellbore is 11,430 feet with a preliminary total depth of 12,500 feet.

After drilling through the gas filled Eagle Ford shale interval, a bit trip was necessary to drill through the
non-porous, dense Buda limestone. The bit type used to drill through the Buda was not the optimal bit
type to drill through the softer, porous Edwards limestone; therefore, another bit trip became necessary to
achieve a more desirable rate of penetration.

Thus far, from mudlogging operations and sample examination, the Edwards limestone is well within predrill
estimates of over 50 net feet of pay. Multiple zones of increased gas readings relative to
background gas levels have been observed corresponding to drilling breaks indicative of porous Edwards
limestone. Several hundred additional gross feet of Edwards limestone will be encountered before
reaching the Glen Rose, our last tertiary objective. Antares is encouraged with the results to date and
anticipates a return to drilling operations within 24 hours.