Antrim Energy Inc.

Antrim Energy Inc.

October 09, 2008 02:00 ET

Antrim Energy Tests High-Rate Gas Well in Tierra del Fuego, Argentina

CALGARY, ALBERTA--(Marketwire - Oct. 9, 2008) -


Antrim Energy Inc. ("Antrim") (TSX:AEN) (AIM:AEY), today announced the successful test of well LF-1010 in the Los Flamencos gas field, Tierra del Fuego, Argentina. Stabilized gas rates in excess of 10 million cubic feet per day (mmcf/d) were recorded from the Springhill reservoir. Pressures were consistent with original reservoir pressure. Antrim's working interest in the Tierra del Fuego concession is 25.78%.

LF-1010 was drilled in July 2008, encountering 16 metres of gas pay in a high-quality reservoir, with no oil or water leg. LF-1010 extended the Los Flamencos pool to the west of the highly successful LF-1005 well, which tested at 8 mmcf/d. Wells LF-1011, drilled in June, and LF-1012, drilled in September and which further extended the Los Flamencos pool to the west, are scheduled for testing next.

As announced in September, mainland gas deliveries from Tierra del Fuego have commenced via the San Martin pipeline. Gas from the eastern area of Los Flamencos has been brought on stream, and gathering system extensions are underway to tie-in wells LF-1005, LF-1010, LF-1011 and LF-1012 in the western area of the field. Total gas delivery from Antrim's Tierra del Fuego concession is expected to rise from 20 mmcf/d in mid-2008 to 40 mmcf/d by mid-2009.

Antrim CEO Stephen Greer commented, "We are very pleased to confirm the gas deliverability of the western Los Flamencos pool, and look forward to continued success in our drilling program in Tierra del Fuego."

About Antrim

Antrim Energy Inc. is a Calgary-based high-growth junior oil and gas exploration and production company with assets in the UK North Sea and Argentina. 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. 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, 2007 and dated March 31, 2008 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 there from. 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.
    Brian Moss
    Exe VP, Latin America
    (403) 264-5111
    (403) 264-5113 (FAX)
    Royal Bank of Canada Europe Limited
    Sarah Wharry
    Nominated Adviser
    +44 20 7653 4667