ANTARES ENERGY LIMITED ENERGY A.C.N. 009 230 835

ANTARES ANTARES ENERGY LIMITED ENERGY A.C.N. 009 230 835 Level 2, 5 Ord Street Telephone: +61 8 9324 2177 West Perth WA 6005 Facsimile: +61 8 9324 1224 Website: www.antaresenergy.com PO Box 690 Email: mail@antaresenergy.com West Perth WA 687 8 September 2010 The Manager Companies Announcements Office Australian Stock Exchange Ltd Company Presentation Good Oil Conference 8 September 2010 Please find attached a presentation on Antares Energy Limited to be presented by Antares Managing Director and CEO, James Cruickshank, at the Good Oil Conference in Fremantle today. A copy will be available for downloading at Antares' website at www.antaresenergy.com. Yours faithfully, ANTARES ENERGY LIMITED Vicky McAppion Company Secretary

ANTARES ENERGY LIMITED RIU GoodOilConference 7-8 September 2010 Presented by: James Cruickshank Chairman & CEO Antares Energy Limited

Disclosure Statement This presentation may include forward-looking statements within the meaning of section 27a of the United States securities act of 1933, as amended, and section 21e of the United States securities and exchange act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Given these uncertainties, undue reliance should not be placed on forward-looking statements.

TPH Engagement Antares Energy Limited and San Isidro Development Company have engaged Tudor, Pickering, Holt & Co. to sell leasehold interests in the volatile oil window of the Eagle Ford play in Northern McMullen County, Texas. Tudor, Pickering, Holt & Co., LLC is an integrated energy investment and merchant bank, providing high quality advice and services to institutional and corporate clients. Tudor, Pickering, Holt & Co.'s acquisition and divestiture department is uniquely positioned to optimize asset divestiture results for its clients. The firm has a small, independent structure with a dedicated team focused solely on the upstream sector, which is a critical component of a successful divestiture process. The group is comprised of experienced engineers and market specialists that offer exceptional service through: Strong technical capabilities In-depth topical knowledge - leveraging proprietary research Execution skills managed by seasoned Investment Bankers Unbiased opinions; integrity and professionalism above all else Tudor, Pickering, Holt & Co.'s acquisition and divestiture professionals specialize in North American transactions greater than $100 million by providing well-by-well analysis, potential reserves evaluation and an unparalleled database of industry contacts as potential buyers. In considering an asset divestiture, the team will "think outside the box" and offer commercial advice before recommending the best course of action to maximize value. Tudor Pickering Holt & Co. is accepted as the industry leader in this type of transaction with over 80 professionals focused exclusively on energy and having completed an industry leading 33 deals between 2008 and 2010 YTD, representing approximately 35 Billion USD.

NAPE Expo 2010 Antares Energy Limited with its operating partner, San Isidro Development Company, participated in the NAPE Expo held in Houston, Texas August 18-20 by having a booth to market its Eagle Ford shale leasehold interest. The world's largest E&P exposition, NAPE Expo (formerly the Northern American Prospect Exposition) provides a marketplace for the buying, selling and trading of oil and gas prospects and producing properties via exhibit booths. NAPE Expo brings prospects and producing properties (from the U.S. and around the world), capital formation, services and technologies all together in one location, creating a pure market place to establish strategic alliances for doing business and initiating purchases and trades. NAPE Expos are held twice a year in Houston. Photograph of Antares booth at the NAPE Expo. Dozens of companies expressed an interest in being involved in the Tudor, Pickering, Holt & Co. sales process.

Producing Eagle Ford Volatile Oil Window Opportunity For enquiries contact: Daniel G. Rathan, Director, Tudor, Pickering, Holt and Co. Tel: 713-333-7184 Email: drathan@tudorpickering.com S e p t e m b e r 2 0 1 0 Tudor, Pickering, Holt & Co. 1111 Bagby, Suite 5100 Houston, Texas 713.333.7100

Eagle Ford Oil Window Divestiture Introduction Antares Energy and San Isidro Development Company have retained Tudor, Pickering, Holt and Co. ( TPH ) as advisor in the strategic divestment of their 24,000 acre leasehold interest and existing production in the Eagle Ford shale play in Northern McMullen County. This offering is a concentrated opportunity in the volatile oil window of a premier shale play, with 100% working interest and operatorship available. The new owner will take advantage of the significant appraisal work accomplished and can focus on drilling approximately 230 locations. The lease positions allow the majority of the planned development wells to be greater than 5,000 laterals. The acreage is centered in the heart of the volatile oil play with prominent shale operators developing acreage on all flanks. EOG s Hundley wells are on the northern flank, Chesapeake has drilled the Martin Mason well adjacent this divestiture position, Pioneer Natural Resources and Hilcorp have demonstrated strong flowrates in Live Oak and Karnes to the east and Petrohawk, El Paso and Anadarko are highly active to the west and southwest. Antares/SIDC have tested the divestment package with seven wells, four currently in production. The results have been successful and the potential for adding stages and improving the completion will generate additional value to the new owner. TPH with the Antares technical team will provide comprehensive physical data room presentations to interested parties beginning September 13 th. Offers are requested on October 21 st. Antares/SIDC Located in the Heart of Eagle Ford Activity UVALDE MEDINA BEXAR GONZALES LAVACA WHARTON WILSON DE WITT MAVERICK ZAVALA FRIO ATASCOSA KARNES GOLIAD VICTORIA JACKSON MATAGORDA DIMMIT CALHOUN LA SALLE MC- MULLEN REFUGIO BEE ARANSAS LIVE OAK SAN PATRICIO JIM WELLS NUECES WEBB DUVAL KLEBERG 1

Eagle Ford Oil Window Divestiture Highlights Over 24,000 net acres in Tier 1 region Operated, 100% Working Interest, 25% Royalty Proven, Eagle Ford shale reservoir Prospective Edwards, Glen Rose and Pearsall reservoirs Compelling combination of thick, net Eagle Ford reservoir in deeper part of the play Three large leases comprise 85% of the acreage Current gross production of over 800 boepd (end August 2010) Development program advanced with 7 active wells: Four wells in production Two wells drilled and cased One well currently drilling 11-15 stage fracs on existing wells EUR potential (exc. NGL s) ~ 450 Mboe The Buyer s Opportunity Tier 1 acreage de-risked with development locations identified Exploit three hydrocarbon streams ; oil, gas and NGL s all currently being marketed Utilize existing 3-D seismic to control landing of lateral in optimum interval Leverage existing wells to fast track operations and accelerate cash-flow Optimize completion procedures Increase lateral length to 6,000+ feet Increase # of frac stages and lbs of proppant placed 233 potential development well locations on 80 acre spacing Access Eagle Ford gross resource potential ~100 MMBOE Strong Performing Rig Onsite Sound Technical Characteristics Parameter Data Implication 2 Eagle Ford Depth 11,000' Moderate well costs Reservoir Pressure 7,200 psia Robust reservoir drive Thickness 150' + High net to gross 95%+ Oil in place substantial Porosity >10% - downspacing potential TOC 5% Permeability >1,000nd Supports high productivity Brittle minerals >75% Frac's efficiently Natural Fractures Dilworth Dome Salt dome enhances fracturing API 49 deg Improved net backs

Eagle Ford Oil Window Divestiture Reservoir Highlights Characteristics Eagle Ford Characteristics Depth (ft) Thickness (ft) TOC (%) Gas Filled Porosity (%) Permeability (nd) Brittle Minerals (%) Thermal Maturity (R o %) Natural Fracturing No Fractures 4,000 6,000 8,000 10,000 12,000 14,000 Structural Complexity Complex Antares & San Isidro Position General Play 6% 200 Pressure Regime (psi/ft) 0 3% 70% 0.40 7% 400 100 4% Calcified Fractures 75% 0.5% Moderate 0.50 8% 600 200 5% 80% 1.0% 0.60 9% 800 300 Highly Fractured Benign 6% 10% 1,000 85% 1.5% 0.70 Thickest part of the oil trend (150+ ft) High net to gross (95%+) High Carbonate & Silica Content (75%+) High Total Organic Carbon Content (5%+) Frances Dilworth No. 2 Log Top Eagle F ord Shale Top Buda Limestone 72 Square Mile 3-D Volume Minimal geohazards Seismic Data Supports Development Provides key depth control for well design (Penetration Point and drilling in Zone accuracy assured). Calibrated with core samples, petrophysical and log data. 3D enables placement of laterals of up to 6,000 +. Due to data density and velocity modeling, there is no need to drill pilot holes saving approximately $500,000/well. 3

Eagle Ford Oil Window Divestiture Operations Significant production established on the acreage Infrastructure for Success in Place Nabors Drilling Rig F07 (1,500 HP PACE rig) on year long drilling contract Halliburton stimulation services secured 12.5 million gallon frac pond serves as water source Tie into 16 gas sales pipeline The Buyer s Opportunity Antares/SIDC Well Results Well Lateral Frac stages IP (Peak 24 hour) Status Francis Dilworth 2H 3,227' 6 frac stages (problem) 790 bopd/0.9mmcfd (940 boepd) Completed on 1/28/2010 Francis Dilworth 3H 4,298' 14 frac stages 941 bopd/1.6 MMcfd (1,207 boepd) Completed on 5/19/2010 Francis Dilworth 4H 4,120' 15 frac stages Restricted Rate 536 boepd on 14/64" choke Completed on 6/30/2010 Epley 1H 3,800' 15 frac stages Cleaning up on 14/64" choke Fraccing completed Francis Dilworth 5H 4,214' Planned 25 frac stages Drilled, cased and cemented Francis Dilworth 6H 3,890' Planned 25 frac stages Drilled, cased and cemented Francis Dilworth 7H 4,800' Planned 25 frac stages Concluding logging & SWC in pilot hole Last Well 23 days to TD Land Position Over 24,000 net acres located in the volatile oil window Majority of acreage covered with 3D Seismic Data Majority of acreage leased from a single land owner 25% royalty on all acreage 4

Eagle Ford Oil Window Divestiture Summary The Antares / SIDC divestiture package offers a strategic buyer access to immediate production with substantial inventory of high value locations. The acreage has been de-risked with seven active wells. Four wells are currently on production; the 7-day average initial production rates for these wells were greater than 500 Boepd. Two wells are waiting on completion. A seventh well is currently drilling. A virtual data room (VDR) will be available beginning September 13 th. The Confidentiality Agreement to gain access to the VDR can be obtained from Tudor, Pickering, Holt & Co. The bid due date is October 21 st. Companies considering this proposal will have the following assistance: Management Overview Presentations available at TPH s offices in Houston, TX Access to Antares team during Management Overview Presentation Review of 3-D Seismic during Management Overview Presentation Technical and Commercial data available in virtual data room NuTech log analysis study Dynamic Excel-based Pre-tax Economic Model Responsive Q&A Process and TPH support Primary Contacts Daniel Rathan Director 713.333.7184 (o), 713.240.5375 (m) drathan@tudorpickering.com BJ Walker Associate 713.333.7104 (o), 713.513.0018 (m) bwalker@tudorpickering.com Additional Contacts Ward Polzin, Managing Director Lance Gilliland, Managing Director Matthew Lowenstein, Technologist David Bilger, Analyst 303.300.1906 (o) 713.333.7110 (o) 713.333.7127 (o) 713.333.7681 (o) 5

Eagle Ford Oil Window Divestiture Calendar September 2010 October 2010 S M T W T F S 1 2 3 4 Holiday 5 6 7 8 9 10 11 Data Room 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Bids due 26 27 28 29 30 PSA Execution Target Closing Target October 2010 November 2010 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 November 2010 S M T W T F S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 6

Disclosure Statement Tudor, Pickering, Holt & Co. does not provide accounting, tax or legal advice. In addition, we mutually agree that, subject to applicable law, you (and your employees, representatives and other agents) may disclose any aspects of any potential transaction or structure described herein that are necessary to support any U.S. federal income tax benefits, and all materials of any kind (including tax opinions and other tax analyses) related to those benefits, with no limitations imposed by Tudor, Pickering, Holt & Co. The information contained herein is confidential (except for information relating to United States tax issues) and may not be reproduced in whole or in part. Tudor, Pickering, Holt & Co. assumes no responsibility for independent verification of third-party information and has relied on such information being complete and accurate in all material respects. To the extent such information includes estimates and forecasts of future financial performance (including estimates of potential cost savings and synergies) prepared by, reviewed or discussed with the managements of your company and/ or other potential transaction participants or obtained from public sources, we have assumed that such estimates and forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of such managements (or, with respect to estimates and forecasts obtained from public sources, represent reasonable estimates). These materials were designed for use by specific persons familiar with the business and the affairs of your company and Tudor, Pickering, Holt & Co. materials. Under no circumstances is this presentation to be used or considered as an offer to sell or a solicitation of any offer to buy, any security. Prior to making any trade, you should discuss with your professional tax, accounting, or regulatory advisers how such particular trade(s) affect you. This brief statement does not disclose all of the risks and other significant aspects of entering into any particular transaction. Houston 1111 Bagby Street, Suite 5100 Houston, Texas 77002 P: 713.333.7100 F: 713.333.7120 Denver 1700 Lincoln Street, Suite 2930 Denver, Colorado 80203 P: 303.300.1900 F: 303.300.1910 New York 340 Madison Avenue, Suite 1900 New York, NY 10127 P: 212.220.9254 London 33 St. James s Square Denver, Colorado 80203 P: 011 44 (0) 20 3008 6428 F: 011 44 (0) 20 3008 6429 www.tudorpickeringholt.com