News

Mar 21, 2001 - 09:00 ET Antrim Energy Inc. Announces Additional Success in New Zealand

CALGARY, ALBERTA-ANTRIM ENERGY INC. (TSE:AEN) ("Antrim") advises 
that additional testing of the Rimu B-1 well in PEP 38719 (Antrim 
5% working interest) New Zealand, has resulted in a stabilized 
test rate from the Rimu Limestone of 505 barrels of 46-degree API 
gravity crude oil per day and 2.8 million cubic feet of gas per 
day (or 972 BOE per day). This successful test confirms the areal 
extent of the zone that flowed at rates up to 1,384 barrels per 
day of 46-degree API gravity crude oil and 9.4 million cubic feet 
of natural gas per day with no measurable water in the Rimu B-2 
well. 

The Rimu B-1 well, the second well in a series of 4 wells drilled 
from two pads, Pad "A" and Pad "B", previously flowed from the 
Lower Tariki Sandstone at unstable rates 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. 

The Rimu Limestone in the Rimu B-1 well was tested at rates 
ranging from 852 BOE per day to 1,939 BOE per day and averaged 944
BOE per day during the (90) hour test period.  In addition to the 
stabilized rate of 972 BOE per day, the well test included 95 
barrels of water per day.  Throughout the flow period the rate of 
water production declined, which indicated the well was continuing
to "clean-up".  The absolute potential rate, based on a 
productivity index calculation, is currently estimated to be 1,845
barrels of oil and 10.3 million cubic feet of natural gas per day 
(3,562 BOE per day) based on stabilized bottom-hole conditions.  
The well has been temporarily shut in pending longer-term 
production testing. 



Current operations on the permit include the drilling of a fifth 
well, Rimu A-3, which is drilling ahead at 2,015 metres (6,609 
feet).  The well is being drilled to the southwest of the initial 
discovery Rimu A-1, which flowed at rates up to 1,524 barrels of 
44 degree API gravity crude oil and 4.8 million cubic feet of 
natural gas per day from the Upper Tariki Sandstone. 

Following drilling operations on the Rimu A-3 well, current plans 
are to move the rig to spud the Kauri A-1 exploration well located
5 kilometres southeast of the B-1 wellsite.  The Kauri well is 
expected to intersect the Rimu oil bearing reservoirs at a 
structurally higher elevation.  



"The successful test of the Rimu Limestone in the Rimu B-1 well 
again confirms the multi-zone potential of the Rimu-Kauri trend.  
We have every expectation that additional drilling and testing of 
Rimu wells will be equally spectacular", said Keith Skipper, 
Executive Vice President of Antrim Energy Inc. 

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
(403) 264-5111
(403) 264-5113 (FAX)
E-mail: greers@antrimenergy.com

or

Antrim Energy Inc.
Keith Skipper
(403) 264-5111
(403) 264-5113 (FAX)
Email: skipper@antrimenergy.com
Website: www.antrimenergy.com