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Antares Energy Limited is an Australia-based company engaged in hydrocarbon production and exploration in the United States. The Company has two principal wells in production being Outlar-1 in its West Wharton project and Harrison-2 in its Oyster Creek project. It has two key areas of exploration being the Yellow Rose project and the Shaeffer Ranch project. As at December 31, 2008, Outlar-1 produced in excess of 64, 000 barrels (Bbls) of oil and one billion cubic feet (Bcf) of gas. As at December 31, 2008, the Company's Harrison-2 well, within its Oyster Creek project, produced in excess of 50,000 Bbls of oil and 168 million cubic feet (MMcf) of gas. Stewart-1 well, within the Company's West Wharton project, was spud on May 9, 2008, reaching a total depth of 11,922 feet on the June 7, 2008. The Company jointly owns the Shaeffer Ranch project with San Isidro Development operator. The joint venture has 7,400 acres in this project under a three year lease.


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