Antrim Energy Inc.
TSX : AEN
AIM : AEY

Antrim Energy Inc.

July 29, 2005 02:28 ET

Antrim Receives Confirmation of Drilling Rig for Prometheus

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(CCNMatthews - July 29, 2005) - Antrim Energy Inc. (TSX:AEN)(AIM:AEY) is pleased to announce that a drilling rig has been contracted to drill the Prometheus prospect in the UK Southern Gas Basin. Centrica Resources Limited, a subsidiary of Centrica plc, (Operator) has exercised its option to extend the Ensco 101 jackup rig contract to drill the exploratory well on block 42/21.

Drilling operations, anticipated to take approximately 40 days, are expected to commence in early September 2005. The well will be drilled at no cost to Antrim to a projected depth of 2,667m (8,750 ft) subsea. Antrim's interest at the conclusion of the drilling operation will be 17.5%. The drilling will target the prolific Permian Leman Sandstone close to and on trend with the Ravenspurn gas fields.

The Prometheus prospect is the first well in Antrim's 2005 three-well program in the UK North Sea. The Prometheus well will be followed by an exploration well ("Clachnaben") targeting the Jurassic Brent Sandstone in the Northern Sector and an appraisal well ("Bennachie") targeting the Jurassic Fulmar Sandstone in the Central Sector of the UK North Sea.

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.

Updated information about Antrim can be accessed on its website: www.antrimenergy.com

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Contact Information

  • Antrim Energy Inc.
    Stephen Greer
    President & CEO
    +1 (403) 264 5111
    +1 (403) 264 5113 (FAX)
    greer@antrimenergy.com
    or
    Antrim Energy Inc.
    Dr. Gerry Orbell
    Chairman of the Board
    +44 1372 371 100
    +44 1372 371 056 (FAX)
    orbell@antrimenergy.com