News

Oct 18, 2000 - 08:30 ET Antrim Energy Inc. Reports Initial Test Results Rimu B-1, New Zealand

CALGARY, ALBERTA--(CDNX.AEN) Antrim Energy Inc. advises that a preliminary testing program has been completed on the Rimu B-1 appraisal well, PEP 38719 (Antrim 5% working interest), onshore Taranaki Basin, New Zealand.

Rimu B-1 flowed from the Lower Tariki Sandstone (perforated from 4031 - 4056m) at unstable rates of up to 1,086 barrels of oil per day, 1.4 million cubic feet of gas per day and 576 barrels of water per day. These test results provide further evidence of the multi-zone nature of the original Rimu discovery (Rimu A-1) that tested at rates of up to 1,525 barrels of oil per day and 4.8 million cubic feet of gas per day from the Upper Tariki Sandstone. The Upper Tariki Sandstone was not present in the Rimu B-1 well.

A second delineation well Rimu B-2 will be spudded in the next few days. An additional well will be drilled to test the updip Kauri structure immediately following completion of Rimu B-2 operations.

Other working interests in the 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 Australia.

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.