Drilling this well will earn Antares Energy a 25% working interest in this prospect.

This well has three objectives ranging in depth from 5,100 feet to 9,700 feet and will test the Yegua and Frio Formations. The target is a structural/stratigraphic trap defined by 3D seismic, according to Antares managing director Howard McLaughlin.

“We expect the drilling of this well to take about a month to reach target depth, with testing to follow thereafter,” McLaughlin said.

“Antares has achieved an enviable record of being able to establish production in less than 12 months. This is considered fast from the perspective of developing the prospect, acquiring the land, contracting equipment, building pipelines and negotiating contracts.

Antares executive director James Cruickshank said the company already producing from two commercial gas wells in Ellis County, Oklahoma and was anticiapting significant growth through its US prospects with strong results in 2005.

“We are delivering on our short-term goals of drilling two non-operated South Texas farm-in wells – Porter’s Creek and Wilbeck – and we are waiting to drill our Yukon prospect and the Ellis-3 and Ellis-4 wells in keeping with the immediate development of our Ellis field.”