The 3D survey is expected to take two months to shoot and a further two months to process.

Early last month, Antares signed an agreement with Texas-based San Isidro Development Company to equally fund the seismic acquisition costs at $US2.2 million ($A2.9 million) each.

Antares said the Shaeffer Ranch area lies along a well-defined and productive deep Wilcox and Queen City proven hydrocarbon fairway with overlying shallow gas potential in the Hockley, Pettus and Het formations.

The traditional Wilcox gas fairway comprises reservoir depths from 10,000 to 13,000 feet (3048-3962m), with both upper and lower Wilcox sands. Discovered field sizes in this fairway have ranged from less than 10 billion cubic feet to more than 1 trillion cubic feet of recoverable gas.

Managing director Howard McLaughlin said Antares would undertake all the initial technical work, including the seismic acquisition, processing and interpretation, while San Isidro will lease the land and operate the drilling and completions.

“This is an exciting project to acquire modern 3D in an attractive hydrocarbon fairway, where it is still relatively unexplored,” he said.

“An opportunity to conduct a large grassroots 3D exploration program and have the land position secured is unique and allows the joint venture to capitalise on any drilling success in the 85 square mile (54,000 acres) area.”