highlights for the week

$200,000,000 cash ,transaction to occur on or before 15th December.

Antares has retained an interest in the Eagle Ford shale with over 8,900 acres in the high yield condensate region with operating partner Petrohawk Energy Corporation.

Antares will be free carried through the drilling of over 110 wells to fully develop the acreage on 80 acre spacing. The first well in this acreage surpassed all

The infusion of capital now puts Antares in the enviable position of being able to select only those projects of the highest calibre in which to deploy resources.


Antares intends to qualify for use of Section 1031 of the Internal Revenue Code. This section allows for the redeployment of capital from the completion of an asset sale of one project into another project within 180 days without the realised gain being recognised at the time of the exchange.

Antares is working with its US accountants to achieve an outcome which should result in the absolute minimisation of taxation realisation as a result of the sale of the Yellow Rose and Bluebonnet projects



Market cap of 140 million, sale of land
150+ million, plus 8900 of condensate rich land free carried for 110 Wells.


Based upon 60 cents cash and about 20 cents per share for the Petrohawk jv with 100 free carried wells adding great value.


Buyback - starting on the 15th , 25M shares to be brought on market.


Director buying on market.


But only trading .395 - .80 market value = 50%profit.