Antrim Energy Inc.
TSX : AEN
AIM : AEY

Antrim Energy Inc.

March 14, 2008 03:00 ET

Antrim Commences Drilling on the Fyne Field in UK North Sea

CALGARY, ALBERTA--(Marketwire - March 14, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Antrim Energy Inc. ("the Company") (TSX:AEN)(AIM:AEY), an international oil and gas exploration and production company, today announced that drilling has commenced on the Antrim-operated Fyne Field in the UK Central North Sea Block 21/28a (Antrim WI 75%, First Oil Expro Ltd. WI 25%).

The Fyne drilling program will target the Eocene Middle Tay Sandstone, which previously tested at rates up to 3,600 bopd of medium gravity (25 degrees API) oil from the Fyne discovery well (21/28a-2), drilled and suspended in 1986. The current operation will entail drilling one pilot well and two side tracks and is being optimized using 3-D seismic acquired during 2007.

Oil was also successfully tested from the Tay Formation in wells 21/28a-6 (1990) and 21/28a-8z (1998) in the adjacent Dandy Field which is situated 6 km to the southwest of Fyne on the same licence. Beginning with Fyne, Antrim intends to appraise the previous discoveries as well as other prospects on the Block.

The Fyne Field is on trend with several other Tay fields in the area, including the West Guillemot, Pict and Saxon developments. Fyne is also situated approximately 20 km from existing infrastructure which provides production services for several fields in the area.

About Antrim:

Antrim Energy Inc. is an international oil and gas exploration and production company headquartered in Calgary, Alberta, Canada. Antrim's production and exploration operations are centered in Argentina and the United Kingdom. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange's Alternative Investment Market (AEY). Visit www.antrimenergy.com 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. Cumulative volumes are not necessarily representative of future production volumes. 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 www.sedar.com, 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)
    Email: greer@antrimenergy.com
    or
    Antrim Energy Inc.
    Kerry Fulton
    Chief Operating Officer
    (403) 264-5111
    (403) 264-5113 (FAX)
    Email: fulton@antrimenergy.com
    Website: www.antrimenergy.com
    or
    Nominated Adviser on AIM:
    Royal Bank of Canada Europe Limited
    Sarah Wharry
    + 44 20 7653 4667