News

Sep 5, 2000 - 14:37 ET Antrim Energy Inc. Announces Rimu B-1 Appraisal Well to be Cased and Tested

CALGARY, ALBERTA--Antrim Energy Inc. (CDNX.AEN) advises the Rimu B-1 appraisal well, PEP 38719, onshore Taranaki Basin, New Zealand (Antrim 5% W.I.) has been drilled to a total depth of 4099m and will be cased for testing and production.

The Rimu B-1 well is situated 2.4 kilometres south-southeast of the Rimu A-1 discovery well, which tested at rates up to 1,525 barrels of oil and 4.8 million cubic feet a day of gas from the Upper Tariki formation, at a depth of 3,607 - 3,647m.

Rimu B-1 encountered several zones with hydrocarbon shows. Sands at a depth of 4,029m flowed free oil and gas to surface during drilling operations, and appear to correlate with the Lower Tariki sands encountered in Rimu A-1. Excess hydrocarbons were flared while well control measures were implemented to continue drilling operations over this interval in the B-l well. The commercial significance of results to date cannot be determined at this early stage of the completion process.

The structural elevations that have been encountered in Rimu B-1 suggest the possibility that the Rimu structure, and the major Kauri feature to the south, could be continuous, and that the Rimu feature may simply be a north plunging nose of the much larger Kauri structure.

Following completion of operations on the Rimu B-1 well, the partners plan to drill Rimu B-2 from the same drilling pad. Rimu B-2 will be drilled as a deviated well to test both the Upper and Lower Tariki sands northwest of the Rimu B-1 wellbore.

Initial production from the Rimu field is anticipated during the first quarter of 2001. Other Working Interest participants in Rimu B-1 are Swift Energy New Zealand Ltd. (Operator, 90%) and Marabella Enterprises Limited (5%).

Antrim continues to develop its production and exploration activities in Europe, North Africa, Latin America and Australasia.

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
Website: www.antrimenergy.com

or

Antrim Energy Inc.
Keith Scrimger
(403) 264-5111
E-mail: scrimger@antrimenergy.com
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of the information contained herein.