Jun 12, 2001 - 13:33 ET Antrim Energy Inc. Updates Kauri Drilling Operations

"Antrim") reports the New Zealand Kauri A-1 exploration well (PEP 
38719: Antrim 5% working interest) has been drilled to a depth of 
3,157 metres.  Over a 250 metre interval (2,890 metres to 3,140 
metres), the well intersected sections of sandstone and claystone 
that yielded good hydrocarbon shows associated with accelerated 
drilling rates.  

Wireline logs were initially run at a depth of 3,060 metres before
a decision was made to continue drilling deeper.  Log quality, 
while encouraging, is not definitive due to hole washout 
conditions. Wireline logs will now be run over the interval 3,060 
to 3,157 metres.  It is anticipated that 9 5/8" casing will be set
at this depth to ensure integrity of the wellbore, and to protect 
those zones of interest already penetrated.  A decision on further
evaluation of these zones will be based upon analysis of the 
additional wireline log information. 

The primary objectives of the Kauri well, the Tariki sands, Rimu 
limestone and the Cretaceous sands, are still to be drilled.  
Drilling is expected to take another 15 to 20 days to reach the 
planned total depth of 4,500 metres. 

Extended production testing has continued at the Rimu 'A' pad. The
Rimu A-1 well began production testing on May 31 and is currently 
producing at a rate of 1,005 bopd and 3.4 MMcf per day with no 
water on a 24/64-inch choke.  Additional production testing will 
also be conducted on the A-2 and A-3 wells following the 
completion of laboratory analysis of core samples to determine the
optimal stimulation treatment. 

Antrim is encouraged so far by the results from the Kauri A-1 
well.  This zone of sand development is a new prospective section 
for the Rimu-Kauri trend, and was not developed in the Rimu wells 
approximately seven kilometres to the north. The presence of this 
prospective zone confirms the multiple-horizon potential of the 
Kauri-Rimu trend.  

Antrim holds a 5% working interest in PEP38719 and the Kauri well.
 The other permit holders are Swift Energy New Zealand Ltd. 
(Operator, 90%) and Bligh Oil and Minerals Ltd. (5%). 

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

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 

Updated information about Antrim can be accessed on its website:


Antrim Energy Inc.
Stephen Greer
Chairman & CEO
(403) 264 5111
(403) 264 5113 (FAX)


Antrim Energy Inc.
Keith Skipper
Executive Vice President
(403) 264 5111
(403) 264 5113 (FAX)