Agent,the big star leasing programme is ongoing in the south east corner of Dawson county.(although there have been no additional acres aquired of late).
An addition of a full time oil/gas lawyer to the board on 3rd January and looking to increase p1 reserves to 28mmbls and 2p to 55mmbls by years end,the company has consitantly stated that they intend to grow by aquisition.
My opinion is that a proved producing asset will be aquired with possibly some additional ongoing leasing.This would be debt funded as antares current borrowings are 4.25%(exc convertable notes).
Do I have concrete evidence.No.
Although you dont have to be a genius to work out that now is the time to buy as debt is cheap if even only to drill a few wells and remarket in 12m time.esp as the real potential of this play is only beginning to unfold.
All the best.
AZZ Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
