Antrim Energy Inc.

Antrim Energy Inc.

October 01, 2007 17:00 ET

Antrim Awarded New Exploration Licence in Argentina

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(Marketwire - Oct. 1, 2007) -


Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim"), an international oil and gas exploration and production company, today announced it has been awarded an exploration licence for the Tres Nidos Sur block in Rio Negro province in central Argentina. Tres Nidos Sur is immediately adjacent to and north of the Medianera Licence (Antrim working interest 70%) in the Neuquen Basin. Antrim's working interest in Tres Nidos Sur will also be 70%.

Under the terms of the licence, Antrim will acquire a minimum of 50 km2 of 3D seismic in year one, and drill an exploration well in year two. Antrim plans to coordinate the exploration and development of Tres Nidos Sur with Medianera. As announced on August 23, 2007, Antrim recently discovered a new oil and gas field in the north area of the Medianera licence. Both wells drilled, M3001 and M3002, intersected an oil column in the Cretaceous Quintuco Formation.

The seismic data that will be acquired in Tres Nidos Sur will be integrated with the recently acquired 84 km2 of 3D seismic in Medianera to establish drilling targets in both licences.

About Antrim

Antrim Energy Inc. is an international oil and gas exploration and production company headquartered in Calgary, Alberta, Canada. Antrim's objective is to create significant wealth for its shareholders through the discovery, production and sale of oil and gas. Antrim's production and exploration operations are centered in Argentina and its high impact oil and gas exploration is focused in the United Kingdom. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange's Alternative Investment Market (AEY). Visit for more information.

Forward-Looking Statements

This news release contains certain forward-looking statements, which include assumptions with respect to future plans, results and capital expenditures. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Antrim's control. Please refer to Antrim's Annual Information Form for the year ended December 31, 2006 and dated March 30, 2007 and available for viewing at, for a list of risk factors. Antrim's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Antrim will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Antrim or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.

Qualified Person Review

In accordance with AIM guidelines, Mr. Kerry Fulton, P. Eng and Chief Operating Officer of Antrim, is the qualified person that has reviewed the technical information contained in this news release.

Contact Information

  • Antrim Energy Inc.
    Stephen Greer
    President & CEO
    (403) 264-5111
    (403) 264-5113 (FAX)
    Antrim Energy Inc.
    Kerry Fulton
    Chief Operating Officer
    (403) 264-5111
    (403) 264-5113 (FAX)
    Nabarro Wells & Co. Limited
    John Wilkes/Robert Lo
    Nominated Adviser on AIM
    +44 20 7710 7400