News

Nov 22, 2000 - 08:44 ET Antrim Energy: Production Casing Set on New Zealand Rimu Antrim Energy: Production Casing Set on New Zealand Rimu B-2 Well

CALGARY, ALBERTA--(CDNX: "AEN") Intermediate production casing has been set at a depth of 3,421m on Antrim's third well, Rimu B-2, on the New Zealand permit PEP 38719 (Antrim 5% working interest). The well encountered a significant pressure increase and flowed considerable amounts of oil and gas to surface from the Rimu Limestone interval at a depth of 3,541m. Pressure control measures were implemented and the well was brought under control within 24 hours, losing in excess of 1000 barrels of drilling fluid to the formation. A decision has been made to open-hole test the Rimu Limestone prior to drilling ahead. The Company anticipates that the testing of the open-hole section should commence within 2 to 4 days and that the test will take a further 3 to 5 days to complete. Prior to drilling the Rimu Limestone, significant hydrocarbon shows were also encountered in the Upper Tariki Sandstone. No conclusions can be drawn as to the commercial importance of the well at this early stage of the drilling and evaluation process.

The Company has previously announced results from the Rimu discovery well Rimu A-1 (December 1999) and results from the subsequent successful appraisal well Rimu B-1 (October 2000). Once operations have been completed on the current well, the partners in the Rimu Permit intend to drill another appraisal well, Rimu A-2 followed by an exploration well, Kauri A-1, to be located on the southeastern extension of the Rimu structure.

Mr. Stephen Greer (Chairman and CEO) commented that, "these latest drilling developments from Rimu B-2 demonstrate the multi-zone potential of the large Rimu structure. Our current development plans will keep a drilling rig busy over the foreseeable future."

Antrim is committed to a strategy of growth through high impact global exploration supported by cash flow from its expanding production base.

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

Certain statements contained in this press release may be considered as "forward-looking" statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.


FOR FURTHER INFORMATION PLEASE CONTACT:

Antrim Energy Inc.
Stephen Greer
(403) 264-5111
E-mail: greers@antrimenergy.com

or

Antrim Energy Inc.
Keith Scrimger
(403) 264-5111
(403) 264-5113 (FAX)
E-mail: scrimger@antrimenergy.com
Website: www.antrimenergy.com
The Canadian Venture Exchange has neither approved nor disapproved
of the information contained herein.