suprised at current share price!

Well: Working Interest: Status:
Newbrough No.1 100% Fracture Stimulated

Additional Well 1 100%(assumption) Rig Arrives 23rd May

Additional Well 2 100%(assumption) Rig Arrives 23rd May

Stuart 12 No.1 75%(after payout) Currently Drilling

Additional Well 1 75% (assumption) Drill after Stuart 12 No.1

Additional Well 2 75% (assumption) Drill after Stuart 12 No.1

Lonestar No.1 50% Fracture stimulations w/c 23/05

Cottonwood No.1 50% Currently Drilling

Smith No.1 50% (assumption) Drill after Cottonwood

Harrison No.3 67.5% to be put into production

Harrison No.2 67.5% Producing ~ 222 boepd

- 15,600 net acres in the Wolfberry Trend Play
- Activity trying to acquire further acres
- 275 mil shares on issue with buy back awaiting approval to reduce by a further 25mil shares.
- Average working interest of 73.63% over 11 proposed wells (WI assumption)
- Lonestar No.1 significant mudlog shows were encountered

Its safe to say that Antares is on the way up with large working interests and an appetite to keep expanding its acreage. That is why I am baffled at the current share price of ~$0.40 this company has the ability to have 11 wells into production this year and possibly more if we say a conservative view of 300 boepd per well (not including Harrison No.2, 222 boepd) then we have:

300 X ~ $99.00 (oil price per barrel) = $29,700.00 per day X 10 wells = $297,000.00 per day plus Harrison No.2:

222 X ~$99.00 (oil price per barrel) = $21,987.00 per day equals a total of $318,987.00 per day with average working interest of 73.63% =$234,870.00 to AZZ per day.

This is only a rough estimation not including recovery costs etc but it is also using a conservative flow rate I would expect higher rates than this from the proposed wells.

So with the possibility of generating revenue of a couple of hundred thousand per day the share price still lingers at sub $0.40 levels if this is not a buying opportunity I dont know what is