The 2012 planned exit production rate for the Southern Star project area is now over 2,500 BOEPD (gross). Looking ahead, the planned 2013 production rate for the Southern Star project area is now over 4,000 BOEPD (gross). Antares Energy has a blended working interest of approximately 75%.
I first invested about six months ago and although I am somewhat disappointed in the current share price, I am optimistic long term. These wells are not barn burners but they are decent and will likely improve as the company refines its technics. The company has done what it said it was going to do, other than foolishly predicting a $1 share price by the end of 2011. Perhaps by the end of 2012.
I some what agree invest72 except that I don't see $1.00 even by the end of 2012. Very big drop off rate on these wells so new wells have to all be winners and start producing much faster then the current wells in order to keep production growing. Not to mention the fact that they will have a huge debt burden to deal with. I'm still looking for .50 plus cents and will be happy with that. They have generally done what they said they would do but I think everyone expected better production then what they achieved. Considering they started from almost nothing I do give them credit for getting this far.