Antrim Energy Inc.
TSX VENTURE : AEN
AIM : AEY

Antrim Energy Inc.

December 11, 2014 18:30 ET

Antrim Energy Inc. Provides Prospect Update on FEL 1/13 Republic of Ireland

CALGARY, ALBERTA--(Marketwired - Dec. 11, 2014) -

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

Antrim Energy Inc. ("Antrim" or "the Company") (TSX VENTURE:AEN)(AIM:AEY), an international oil and gas exploration company, today provided an update on its prospect inventory with respect to Frontier Exploration Licence 1/13 ("FEL 1/13") which includes blocks 44/4, 44/5 (part), 44/9, 44/10, 44/14 and 44/15 (collectively the "Skellig Block", Antrim 25% working interest) offshore Ireland.

The prospect inventory, prepared by the operator of the licence, Kosmos Energy Ireland ("Kosmos"), includes several leads previously identified and highlights three prospects including two tilted, Jurassic fault blocks and a Cretaceous submarine fan. Two of the three prospects were previously included as leads in the prospective resources evaluated by McDaniel & Associates Consultants Ltd. ("McDaniel") in accordance with National Instrument 51-101 in a report dated effective June 30, 2014 (as announced by Antrim on July 29, 2014). An additional second Jurassic prospect identified by Kosmos has yet to be reviewed by Antrim's independent evaluator. Further detailed seismic analysis is expected to be completed by the end of Q1 2015 in order to risk and rank these prospects. The Company also intends to update the previous McDaniel report to reflect the current prospect inventory including the additional second Jurassic prospect and the new work being completed.

Commenting on receipt of the prospect inventory, Antrim's CEO Anthony Potter said "We are very pleased with the quality of the 3D seismic data and the evaluation completed so far. These results support our continuing effort to de-risk the Irish Skellig Licence and create significant value for shareholders".

About Antrim

Antrim Energy Inc. is a Canadian, Calgary based junior oil and gas exploration company with assets in the UK North Sea and Ireland. Antrim is listed on the TSX Venture Exchange (AEN) and on the London AIM market (AEY). Visit www.antrimenergy.com for more information.

Notes on Oil and Gas Disclosure

Prospective resources are defined as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects. Prospective resources have both an associated chance of discovery and a chance of development. Prospective resources are further subdivided in accordance with the level of certainty associated with recoverable estimates assuming their discovery and development and may be sub-classified based on project maturity.

In accordance with AIM guidelines, Mr. Kevin Morrison, P.Geo., and Exploration Manager for Antrim Energy Inc., is the qualified person that has reviewed the technical information contained in this press release. Mr. Morrison has over 30 years operating experience in the upstream oil and gas industry.

Forward-Looking and Cautionary Statements

This press release contains certain forward-looking statements and forward-looking information which are based on Antrim's internal reasonable expectations, estimates, projections, assumptions and beliefs as at the date of such statements or information. Forward-looking statements often, but not always, are identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect", "targeting", "forecast", "achieve" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements and information. Antrim believes that the expectations reflected in those forward-looking statements and information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements and information included in this press release and any documents incorporated by reference herein should not be unduly relied upon. Such forward-looking statements and information speak only as of the date of this press release or the particular document incorporated by reference herein and Antrim does not undertake any obligation to publicly update or revise any forward-looking statements or information, except as required by applicable laws.

In particular, this press release contains forward-looking statements and information pertaining to business plans of Antrim and expected timing thereof.

Contact Information

  • Antrim Energy Inc.
    Anthony Potter
    President, Chief Executive Officer & Chief Financial Officer
    + 1 403 264-5111
    potter@antrimenergy.com

    RFC Ambrian Limited
    James Biddle
    +44 (0) 20 3440 6800