I have been looking at this also. I take it nobody wanted to answer your question because the answers aren't great. I think they have about 9,000 acres left. One well producing, harrison2 and another coming soon ,harrison 3. I think sometime in Dec. we will get a new ventures plan telling us what comes next and what the future drilling/ land acquisition plan will be. Lot of potential here. I bought a small position here. I think it found a new bottom and if future drilling plan is aggressive it could go much higher. Its basically starting over but with a lot of cash available.
"Antares interest in the Petrohawk assignment area provides free funding through the drilling of up to 110 wells at an 80-acre spacing across 8,900 acres in the condensate rich window of the shale." "Or as stated in their 3rd quarter report: As per previous announcements, Antares Energy has a back-in after payout on a well by well basis in 8,938 acres with Petrohawk Energy Corporation in their Hawkville Field area. Over 110 wells will be needed to fully develop the acreage on 80 acre spacing. The Hawkville Field extends through LaSalle, McMullen and Live Oak Counties and represents over 220,000 acres of the highest quality Eagle Ford shale acreage. Petrohawk is committed to this area with over 75 active wells." I believe that Antares will share at 50% after the recovery of well establishment cost's. ALSO FROM 3RD QTR REPORT "Project: Oyster Creek Location: Brazoria County, Texas Wells: Harrison Nos. 2 and 3 Working Interest: Antares Energy 67.5% Operator: Slawson Exploration Company 32.5% The Harrison No. 2 well was successfully put into production on the 20th of May 2008. The well, located immediately downdip of the prolific South Angleton Field which has produced in excess of 16.84 Bcf and 300,000 Bo, has produced approximately 150,000 Bo and 670,000 Mcfg. The Harrison No. 2 encountered three hydrocarbon filled reservoirs, the Anomolina “B” sand, the Anomolina “C” sand and the F-41 sand. The F-41 was a secondary target and successfully produced in excess of 135,000 Boe The primary Anomolina “C” sand was completed in December 2009 and has produced in excess of 126,000 Boe. Today the Anomolina “C” sand is producing in excess of 170 Bo/d and 800 Mcfg/d equating to approximately 300 Boe/d. The third hydrocarbon
Due to the strong production characteristics of the Harrison No. 2, Antares along with its operating partner Slawson Exploration, have elected to drill an additional well to further capture the oil and gas resources in place. The Harrison No. 3 is anticipated to begin drilling operations in late December".
About 300 million shares with 150 million dollars coming into the bank from sale plus a 10% share buy back plus this management team has brought the company back from the brink of financial disaster. IMHO the up side looks very interesting and worth the wait. Do your own research here. Interested in the opinions of all. GLTA