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Antares Energy Ltd. Message Board

  • stinker1957 stinker1957 Dec 22, 2010 12:34 PM Flag

    Another conversation

    This is a copy and paste from the Australian message board Hotcopper. The poster's handle is Greenchange. This is the complete post so the integrity of the statements have not been manipulated. I have replaced the stock symbol letters with the word Antares. I'm guessing the profanity filters don't like the stock symbol letters. GLTA


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    I emailed James Cruickshank.(CEO) to seek the real facts and explanations on many questions i had, and hopefully a clearer understanding of recent events with Antares. A return email from James invited me to speak directly with him regarding any queries or concerns with our business. Logic is to go straight to the source when seeking accurate information and when you have a lot invested personally. I rang his mobile in the United states and found him to be very helpful and forthcoming with explanations and answers to many a different scenario.

    - $156 million cash in accounts as per scheduled 15th Dec.
    - Harrison 3 well to be drilled in oyster creek at a cost of $3million in the next 2 months. Harrison 2 well was the most succesful well in Antares history. Strong risk to reward proposition for Harrison 3. A successful well would dramatically increaes the value of Antares holding and value.
    -Petrohawk term assignment area activity (PTA) is committed to drill 13 wells to maintain their lease rights. Antares are free carried for all 110 wells. Revenue is shared between the 2 operators after Petrohawk drill costs are repaid from each producing well. The long term upside from this arrangement was said to be very lucrative for Antares. James believes there is strong probability of Petrohawk developing the entire acreage.
    - The company is aware of B-29 investments and have duly approached this seller to purchase all shares off market. The response from B-29 was they would sell them all on market and not directly to Antares. Antares gave them the opportunity and this is why a more subdued approach in the share buy back has occurred to maximise value for shareholders at lower prices. B-29 will make around a 400% return profit including favourable currency movements over 2 years. A $20 million profit being cashed in is the reason for the short term pricing pressure.
    - The price target of $1.00 per share has been set by all directors to achieve within 12 months. Antares is now ranked No.8 for cash on hand in the ASX Oil & Gas sector. James believes we will be a top 10 company in the Oil & Gas sector with rapid revenue and reserves growth also within 12 months.
    - Last AGM James predicted Antares quickly achieve ASX300 status and did so accordingly.
    I was genuinely impressed with the James as (CEO) with a no nonsense style of emphasising "results are what speak loudest". Antares are in the enviable position of being cashed up with a multiple of quality assets and opportunities being available.
    I do not doubt that our best interests are being served by Antares management and we can expect substantial long term recovery in the share price. My personal holdings have been increased again today as my confidence in this business being under the radar and seriously undervalued is undeniable. Good luck to all Antares shareholders and i hope this gives you some greater clarity.

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