News

Apr 5, 2001 - 14:22 ET Antrim Energy Announces Preliminary Results from New Antrim Energy Announces Preliminary Results from New Zealand Rimu A-3 Well

CALGARY, ALBERTA--ANTRIM ENERGY INC. (TSE:AEN) ("Antrim") reports the Rimu A-3 well has encountered significant hydrocarbon shows in the Upper Tariki Sandstone interval at a total vertical depth of 3551 metres, approximately 45 metres higher than the Upper Tariki interval that tested 1,525 bopd and 4.8 MMcf/d in the discovery well Rimu A-1. Rimu A-3 is the fifth well to be drilled on the New Zealand Rimu Permit 38719 (Antrim 5% working interest).

Full diameter cores were cut over a 49-metre interval in the A-3 Upper Tariki Sandstone, which appears to be similar to the Upper Tariki Sandstone in the wells A-1 and A-2. It is anticipated that A-3 drilling will continue to a projected depth of 4800 metres. Once drilling operations have been completed on A-3, the drilling rig will commence drilling the much larger Kauri prospect approximately 7km southeast of the Rimu 'A-pad.'

Extended production testing and oil sales have begun from the Rimu 'B-pad.' Production from B-2 began April 1st with an initial flow rate of 658 bopd and 5.2 MMcf/d at a flowing wellhead pressure of 2,459 pounds per square inch. It is anticipated that production rates will be increased to the current 1,000 bopd limit of the testing equipment. Natural gas is presently being flared from the location. The B-1 well is also ready for long term production testing, which will start when additional equipment is installed on the Rimu 'B-pad.'

The processing and production facilities for the Rimu 'A' and 'B-pads' are expected to be operational before year-end with an anticipated initial capacity of 3,500 bopd and 10 MMcf/d. The modular design of these facilities will allow the operator to increase the operating capacity to 7,500 bopd and 18 MMcf/d at a later date.

Other working interests in the Rimu A-3 are Swift Energy New Zealand Ltd. (Operator) 90% and Marabella Enterprises Limited 5%.

Antrim is committed to a strategy of growth through high impact global exploration supported by cash flow from our expanding production base. Antrim is debt free.

Certain statements contained in this press release may be considered as "forward looking". Such "forward looking" statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

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


FOR FURTHER INFORMATION PLEASE CONTACT:

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

or

Antrim Energy Inc.
Dwayne Warkentin
VP, Operations
(403) 264-5111
(403) 264-5113 (FAX)
E-mail: warkentin@antrimenergy.com
Website: www.antrimenergy.com