News

Dec 1, 2000 - 15:03 ET Antrim Energy Inc. Announces Completion of Rights

CALGARY, ALBERTA--ANTRIM ENERGY INC. (CDNX: AEN) ("Antrim") is pleased to announce the successful completion of its rights offering on November 30, 2000. The full subscription of 2,138,957 Units, subject to rounding, were subscribed for at a price of $1.00 per Unit for gross proceeds to Antrim of approximately $2,138,957. Each Unit consists of one Common Share and one-half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder thereof to purchase one Common Share at a price of $1.50 on or before November 30, 2001. Demand for the offering was in excess of the eligible amount available. Jennings Capital Inc. acted as soliciting dealer in connection with the rights offering.

Proceeds from the rights offering will be used to partially fund Antrim's planned development of its Puesto Guardian Field in Argentina in which Antrim has a 40% working interest.

Under the terms of the rights offering, holders of Antrim's Common Shares as of October 27, 2000 received one Right for each Common Share held. Six Rights entitled the holder to purchase one (1) Unit at a subscription price of $1.00. The Rights expired at 4:00 p.m. (Toronto time) on November 30, 2000.

The company remains debt-free.

Antrim is committed to a strategy of growth through high impact global exploration supported by cash flow from our 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
(403) 264-5113 (FAX)
E-mail: greers@antrimenergy.com
www.antrimenergy.com

or

Antrim Energy Inc.
Keith Scrimger
(403) 264-5111
(403) 264-5113 (FAX)
scrimger@antrimenergy.com
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.