Athlone Energy Ltd.
TSX VENTURE : ATH

Athlone Energy Ltd.

November 03, 2005 11:25 ET

Athlone Energy Ltd.: Kitscoty Area Drilling

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 3, 2005) - Athlone Energy Ltd., ("Athlone" or the "Company") (TSX VENTURE:ATH) is pleased to announce the drilling and completion of a third well in the Kitscoty area of Alberta. This well was put on production on October 20, 2005 and is currently producing 50 barrels oil per day. Athlone has a 100% working interest in the well and is the operator.

This is the second successful oil well to be completed in the Kitscoty area. The first well has been producing at 50 barrels oil per day since August 13, 2005. In addition, Athlone is awaiting the tie-in of a gas well in the area (see news release dated September 9, 2005). This well was drilled, completed and tested in two zones at 1.34 million cubic feet of gas per day. The Company hopes to have the tie-in completed by the end of December.

The Company has previously completed 2D and 3D seismic programs on its acreage in the Kitscoty area and plans to drill another three to four oil wells, subject to rig availability, before year end. Seismic evaluation indicates a potential of 12 to 18 possible oil well locations on Athlone's current land holdings.

Athlone's current production with the addition of the new well is approximately 140 barrels oil equivalent per day.

On behalf of the Board.

ATHLONE ENERGY LTD.

Paul S. Reynolds, President

Copyright (C) 2005 ATHLONE ENERGY LTD. (TSX VENTURE:ATH). All rights reserved.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information