Antrim Energy Inc.

Antrim Energy Inc.

October 25, 2006 12:53 ET

Antrim Energy Inc. Announces Increase to "Bought Deal" Financing

CALGARY, ALBERTA--(CCNMatthews - Oct. 25, 2006) -

Not for distribution to United States newswire services or dissemination in the United States.

Antrim Energy Inc. (TSX:AEN)(AIM:AEY) ("Antrim" or the "Company") is pleased to announce an agreement to increase its "bought deal" financing. Antrim has entered into an agreement to sell to a syndicate of underwriters, on a "bought deal" basis, 13,175,000 common shares at a price of $3.70 per common share for gross proceeds of $48,747,500. The syndicate will be led by Blackmont Capital Inc. and will include GMP Securities L.P., Tristone Capital Inc. and Wellington West Capital Markets Inc. Blackmont Capital's alliance partner Oriel Securities will act as a special selling agent. In addition, the Company has also granted to the Underwriters an over-allotment option, exercisable at any time until 30 days following the Closing Date, to purchase an additional 1,975,000 common shares at a price of C$3.70 per Share. The offering will be made in the provinces of British Columbia, Alberta and Ontario by way of short form prospectus. The offering is scheduled to close on or about November 21, 2006.

Antrim plans to use the net proceeds of this offering to fund development of its international oil and gas assets and for general corporate purposes. The offering was priced at the previous closing market price on the TSX and represents approximately 18.5% of the common shares outstanding prior to the offering.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. The common shares may be offered or sold in other eligible foreign jurisdictions and to U.S. buyers on a private placement basis pursuant to an applicable exemption from registration requirements in Rule 144-A or Regulation D of the United States Securities Act or 1933, as amended.

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.

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