Southern Star
Working interest: Varies between leases (Blended 75.6% Working Interest).

Southern Star is located in the core of the main Wolfberry producing trend within Northwest Howard County. Antares Energy’s current net acres are 3,418 acres with over 30 active wells producing 1,000 BOEPD+. A single rig is dedicated to fully develop the remaining well locations (20 acre spacing). Primary reservoir objectives are Spraberry, Dean, Wolfcamp, Cline, Strawn, Mississippian, and Woodford formations at maximum depths of approximately 10,300ft. Current net reserves are 12.6 MMBOE (1P) with 27 MMBOE net in each 2P and 3P categories.

 Summary:

• 3,920 gross (3,120 net) acres
• 1P Net Reserves of 12.6 MMBOE (40 ac spacing)
• 2P Net Reserves of 27.0 MMBOE (20 ac spacing)
• Current Gross Production – 1,000+ BOEPD
• 10,300’wells: Spraberry, Dean, Wolfcamp, Cline, Strawn, Mississippian & Woodford producing intervals
• Continuous 1 rig 2012 drilling program
• Near term production milestone of > 1,000 BOEPD achieved
• All land to be Held by Production (HBP) in 2012
• 2012 exit production rate of 2,500+ BOEPD