AZZ 0.00% $7.50 antares energy limited

santos us interests sold., page-2

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    "An extract from Quarterly report to 31 December 05"

    Antares Energy will have a 5% w/i in group A which covers 7087 acres and includes 3 initial prospects.

    Santos USA is the operator of group A,with a 55% w/i.
    The Lamay group,holds the remaining 40% w/i in group A.

    Antares energy and the Lamay group have a 50% w/i each in group B which comprises of 3785 acres.

    PLEASE NOTE """Santos USA has an OPTION to aquire 35% w/i in group B."""
    Should Santos exercise this option ,Antares and Lamays interests would reduce to 25% and 40% respectively.

    Santos had an internal pre-requisite of 100BCF gas net to them.

    ONLY 1 prospect in group A fullfilled that criteria KMF-228-1.

    With 4 prospects in the Kenedy Ranch area A and B remaining,ranging from 30-120BCFG in size.
    Dont be surprised if the new owners are not as selective as Santos.

    All the best.
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