Speaking at the company’s annual general meeting, chairman Richard Elliott said this was a “very pleasing” strike rate.

At the Oyster Creek project, the company has two wells – Harrison-1 and Scott-2 – coming into production for gas and condensate.

“This will be a core area for us, as it has substantial remaining potential, and we anticipate drilling additional exploration and appraisal wells in the coming months,” Elliott said.

The New Taiton project was kicked off with the drilling of Ilse-1, designed to target the Wilcox reservoirs. The well, which reached a total depth of 17,000 feet (5181m), will be production tested in the next few days.

Elliott said Antares had also achieved “great success” at its Little Bear project, with two wells encountering potentially commercial quantities of hydrocarbons. Additional appraisal and development drilling is expected to occur in the coming months.

“I would like to point out that the first sales from this project occurred just six months from when we announced the Little Bear project,” he said.

Meanwhile, the company has recently acquired two low-risk projects at Gemini and West Wharton, located in an area of existing hydrocarbon production.

“We are seeing that, providing you have the right relationships, attractive opportunities are still available in what has been considered to be a mature area,” Elliott said.

Antares has also completed mapping the major deep structural feature in its higher risk Shaeffer Ranch project and expects to seek farm-out partners before drilling.

New seismic data is currently being shot at Antares’ Yellow Rose project, designed to supply drillable prospects to its exploration portfolio.