Antrim Energy Inc.
TSX VENTURE : AEN
AIM : AEY

Antrim Energy Inc.

June 13, 2016 02:00 ET

Antrim Obtains 100% Working Interest in FEL 1/13 Republic of Ireland

CALGARY, ALBERTA--(Marketwired - June 13, 2016) -

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 announces that its subsidiary Antrim Exploration (Ireland) Limited has received formal approval from the Department of Communications, Energy and Natural Resources ("DCENR") of its application for a 100% working interest in Frontier Exploration Licence ("FEL") 1/13.

The Company has identified two highly prospective Jurassic fault blocks and one Cretaceous submarine fan system in the FEL 1/13 Licence, as well as numerous other leads. FEL 1/13 has a 15 year term, with an initial three-year term followed by three four-year terms. The initial three-year term expires in early July 2016 and Antrim has submitted a request to extend the first exploration term by an additional two years and this request requires the approval of the Irish authorities. The Company is also currently seeking a new farm-in partner and operator to complete any additional technical work necessary during the period of any extension granted by the Irish authorities with the ultimate goal that a well commitment could be made at the end of the revised first exploration phase.

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.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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 should not be unduly relied upon. Such forward-looking statements and information speak only as of the date of this press release and Antrim does not undertake any obligation to publicly update or revise any forward-looking statements or information, except as required by applicable laws.

This press release may contain specific forward-looking statements and information pertaining to Antrim's plans for exploring and developing its licences, including exploration of the Skellig block and expectations regarding Antrim's ability to raise capital or pursue farm-out opportunities.

With respect to forward-looking statements contained in this press release, Antrim has made assumptions regarding: Antrim's ability to obtain drilling equipment in a timely manner, obtain regulatory approvals (including for an extension of the Skellig block), and Antrim's reliance on industry partners for the development of some of its properties. In respect to these assumptions, the reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect.

Antrim's actual results could differ materially from those anticipated in these forward-looking statements and information as a result of assumptions proving inaccurate and of both known and unknown risks, including risks associated with the exploration for and development of oil and natural gas reserves such as the risk that drilling operations may not be successful, unanticipated delays with respect to the development of Antrim's properties, the ability of Antrim to fund its capital requirements, Antrim's reliance on industry partners for the development of some of its properties, and the risk that licence extensions are not approved.

Many of these risk factors, other specific risks, uncertainties and material assumptions are discussed in further detail in Antrim's MD&A and in Antrim's Annual Information Form for the year ended December 31, 2015. Readers are specifically referred to the risk factors described in Antrim's MD&A under "Risks and Uncertainties" and in other documents Antrim files from time to time with securities regulatory authorities. Copies of these documents are available without charge from Antrim or electronically on the internet on Antrim's SEDAR profile at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

In accordance with AIM guidelines, Mr. Murray Chancellor, C. Eng., MICE and Managing Director, United Kingdom for Antrim, is the qualified person that has reviewed the technical information contained in this press release. Mr. Chancellor has over 26 years operating experience in the upstream oil and gas industry.

Contact Information

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

    RFC Ambrian Limited
    Will Souter or Indra Ruthramoorthy
    +612 9250 0020