News

Oct 16, 2000 - 08:30 ET Antrim Successful on First Recompletion in Argentina

CALGARY, ALBERTA--Antrim Energy Inc. (CDNX.AEN) is pleased to report the company has successfully recompleted the first well in a multi-well workover program in Antrim's Puesto Guardian Field, Argentina (Antrim 40% working interest). Following reperforation and stimulation Puesto Guardian #6, previously shut-in, flowed oil to surface from two intervals at a combined rate of over 800 bopd, with a 50% water cut (800 bwpd). The well has been placed on stream at a restricted rate of 100 bopd pending further flow tests. Pressure observations indicate the well, which produced over 300,000 barrels of oil between 1981 and 1985, has maintained its original reservoir pressure. Antrim has identified an additional 30 wells which are suitable for similar workover operations.

Antrim Energy advises the Rimu B-1 appraisal well, PEP 38719 (Antrim 5% working interest), onshore Taranaki Basin, New Zealand, is being production tested.

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

or

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