The Perth-based company said in May it would spend at least $US2.2 million ($A2.9 million) to have a 75% working interest in drilling the initial 13,000-foot (3962m) gas exploration well in Oyster Creek.

This morning, Antares reported that Harrison-1 was drilled ahead at a depth of 10,435ft. The planned total depth is 12,800ft.

Elsewhere in Texas, Antares said the first well to be drilled on its Shaeffer Ranch project is planned for spudding before the end of next month.

With a planned total depth of 9500ft, the Lonesome Dove-1 well, which was identified by the Rowena 3D seismic survey, is targeting an attractive seismic amplitude supported feature.

Antares, which holds a 50% interest in the project, said the road and drilling site were now prepared and a contract has been signed with a drilling company.

On a dry-hole basis, the company will contribute $750,000 towards the drilling of this well, but if successfully completed, the costs will increase to $940,000.