Antrim Energy Inc.

Antrim Energy Inc.

December 12, 2006 12:14 ET

Antrim Announces Successful Oil Development Well, Tierra del Fuego, Argentina

CALGARY, ALBERTA--(CCNMatthews - Dec. 12, 2006) - Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim") is pleased to report the test results from a successful development well drilled in the recently discovered Los Patos oil and gas field, Argentina. Production tests on the Los Patos 1008 (LP-1008) well resulted in a stabilized rate of 377 barrels of oil per day ("bopd") of light sweet crude with negligible water. The test rates from LP-1008 were recorded over a 38 hour period under natural flow conditions through a 20 mm choke.

LP-1008 was drilled southeast of the LP-1005 oil discovery. The well was drilled to a target depth of 2,327 metres in the Springhill Formation, logged and perforated over a 20 metre interval (16 metres net).

The area around LP-1008 was covered by the 156 km2 Los Patos 3D seismic survey acquired in 2005. Antrim and partners recently announced the signing of a two year rig contract with drilling expected to commence in the second quarter of 2007. An additional 3D seismic program is also expected to be shot in this area in 2007. Antrim has a 25.78% interest in the Tierra del Fuego licences.

Certain statements contained in this press release may be considered as "forward looking". Such "forward looking" statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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 press release.

Updated information about Antrim can be accessed on its website:

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