News

Jul 16, 2001 - 08:29 ET Antrim Announces $6 Million Special Warrant Offering

CALGARY, ALBERTA--ANTRIM ENERGY INC. (TSE:AEN)("Antrim") announced today that it has entered into an agreement with a syndicate of investment dealers led by Haywood Securities Inc., which includes FirstEnergy Capital Corp., J.F. Mackie & Company and Jennings Capital Inc. (collectively, the "Agents"). Under the agreement, Antrim has agreed to issue up to $6,000,000 of Special Warrants at a price of C$1.25 per Special Warrant. Each Special Warrant is exercisable for one (1) Common Share and one-half of one Common Share purchase warrant ("Warrant") at no additional cost. Each whole Warrant entitles the holder to acquire one Common Share at a price of $1.50 per Common Share expiring 12 months from closing.

Pricing of the offering was determined by negotiation between the Agents and Antrim. The net proceeds from the private placement are expected to be used to finance Antrim's planned foreign exploration and development activities. The offering is expected to close in early August 2001, subject to receipt of all applicable regulatory approvals.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The Special Warrants offered will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States or to US persons absent registration or an applicable exemption from the registration requirement.

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


FOR FURTHER INFORMATION PLEASE CONTACT:

Antrim Energy Inc.
Stephen Greer
Chairman & CEO
(403) 264-5111
(403) 264-5113 (FAX)
E-mail: greers@antrimenergy.com

or

Antrim Energy Inc.
Randal J. Matkaluk
Chief Financial Officer
(403) 264-5111
(403) 264-5113 (FAX)
E-mail: rjm@antrimenergy.com