Aster Acquisition Corp C.ATR

RE: Placed a bid this morning

[NineLives]

Oil going back up// ATR producing just under 350 barrels per day, there's hope yet. Breton Anterra spudded its 100-per-cent working interest LSD 11-23-47-4W5M Basal Belly River well during the last week of September. The well was drilled to a total depth of 1,095 metres and encountered five metres of oil-bearing marine sands in the producing Basal Belly River formation. The well also encountered six metres of gas in the Basal Belly River channel sands, 20 m above the oil-bearing formation. The well will be completed and placed on production by the end of October, 2006. Initial production rates from the oil zone are expected to be between 50 and 100 barrels of oil equivalent per day, declining to 40 barrels of oil equivalent per day over three months. As Anterra owns 100 per cent of the mineral rights over the full gas spacing unit for the location, management is considering a dual completion of the well to allow production of up to 500,000 cubic feet per day of gas from the upper channel sand. The well was drilled in the southern portion of the Breton unit and, with this success, reservoir continuity in the oil-bearing marine sands is inferred to extend across much of Anterra's lands, which improves the probability of further commercial success in the area. The company has identified five follow-up locations for drilling in the winter of 2006 and 2007. The Breton field is presently producing 210 barrels of oil equivalent per day.