I've got a buy order in also. Australia is hurting us. We just follow them. All the aussie oilers are down most every day. Doesn't make much sense. Oil will soon hit $100 per barrel. Antares has 160 million in cash, a good percentage of 110 petrohawk wells and two harrison wells with much more to come after closing on CHK deal. I'll buy all I can at these prices. Did I mention a 10% share buyback starting on the 15th of Dec?
Stinker, I i'm still waiting for a return phone call to get some clarification. I thought ALL bluebonnet and Yellow rose property was sold. Wouldn't this include the Petrohawk deal? It is my understanding the only property they have left is about 9,000 acres in the Oyster Creek area. This is where the harrison wells are. Hopefully I will get a call soon that will tell us What the company still owns and what its current assets are.
OK, I got my call back and I think I am getting a handle on this. You are right stink. They do have the deal as you stated with Petrohawk. The 110 wells is a Petrohawk number but believed to be accurate. So far they have one well producing and another well drilled. Maybe we can find some IP numbers on the petrohawk web site. The lease expires the end of 2011 so best guess is that petrohawk will be drilling at a very fast pace over the next year. You are also correct on the non disclosure of Antares % in these wells. It is up to Petrohawk to decide if and when they release this information but I got the impression it is a very good deal for Antares. We will be able to see a dollar number in the next quarterly report so we will have a very good idea how profitable these are to Antares. The only other assets are the Oyster Creek property and the Harrison wells and of course about 160 million in cash.