Antrim Energy Inc.

Antrim Energy Inc.

March 21, 2005 11:47 ET

Antrim UK North Sea Farm-out Finalized, Block 211/22a, East Shetland Basin


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ANTRIM ENERGY INC.

TSX SYMBOL: AEN
AIM SYMBOL: AEY

MARCH 21, 2005 - 11:47 ET

Antrim UK North Sea Farm-out Finalized, Block 211/22a,
East Shetland Basin

CALGARY, ALBERTA--(CCNMatthews - March 21, 2005) - Antrim (TSX:AEN)
(AIM: AEY) is pleased to announce that it has finalized a formal
Farm-Out Agreement relating to Antrim's North Sea Block 211/22a (the
"Block"). Under the Agreement, Dana Petroleum plc ("Dana"), a leading UK
exploration and production company, will earn a 54.79% working interest
in the north and western areas of Antrim's block in exchange for funding
100% of the cost of an exploration well up to a gross cost of Pounds
Sterling 5,750,000 (Cdn.$14 million dollars). Antrim will retain a 21%
working interest in this area of the block.

Block 211/22a is situated between the producing Cormorant and Dunlin
oilfields which to date have produced over 400 million and 380 million
barrels of oil respectively. Dana intends to drill the 'Clachnaben'
prospect in the northwest portion of the Block as part of its 2005 North
Sea drilling program. A discovery well drilled in 1976 on the northwest
portion of the block (211/22a-1) tested oil at a rate of 1,280 bopd.

Under the agreement, and following Dana's earning well, Antrim will
increase its working interest from 75.794% to 79% in the southeast
portion of the block which includes the prospective Osprey Ridge area. A
discovery well (211/22a-3) drilled in 1984 on this portion of the block
tested oil at 5,512 bopd from a Jurassic reservoir. Antrim anticipates
it will be appointed Operator of the southeastern (Osprey Ridge) portion
of the block.

A map of the Block is available on the CCNMatthews website:
http://www2.ccnmatthews.com/database/fax/2000/321aen_map.gif

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

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Antrim Energy Inc.
    Stephen Greer
    President & CEO
    (403) 264-5111
    (403) 264-5113 (FAX)
    Email: greer@antrimenergy.com
    or
    Antrim Energy Inc.
    Dwayne Warkentin
    Chief Operating Officer
    (403) 264-5111
    (403) 264-5113 (FAX)
    Email: warkentin@antrimenergy.com
    Website: www.antrimenergy.com
    The TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.