News

Jan 23, 2001 - 16:02 ET Antrim Energy Inc. Updates New Zealand Drilling Activity

CALGARY, ALBERTA--(CDNX:AEN) Antrim Energy Inc. reports the Rimu 
A-2 well in PEP 38719 (Antrim 5% working interest), onshore 
Taranaki Basin, New Zealand, has been drilled to a deviated depth 
of 3,930 metres.  The current operation is running 7" casing.  
Plans are to drill an additional 500 metres to evaluate the Lower 
Tariki sandstone and Lower Rimu Limestone at this location.  

Rimu A-2 has confirmed the presence of the Upper Tariki sandstone 
800 metres north of the original oil discovery well Rimu A-1.  As 
announced previously, the Rimu A-1 well tested 1,525 barrels of 
oil per day and 4.5 million cubic feet of natural gas per day.  

The Rimu A-2 well has been successfully logged to a total measured
depth of 3,930 metres and the Upper Tariki section includes 
reservoir quality sandstones from 3,819 metres to 3,877 metres.  
Log analysis suggests the presence of hydrocarbons within this 
interval which will be the subject of later testing.  

Rimu A-2 is the fourth well drilled on the permit and extends the 
known area of hydrocarbon presence on the Rimu trend.  

Other working interests in the Rimu A-2 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. 

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.
Keith Skipper
(403) 264-5111
E-mail: skipper@antrimenergy.com

or

Antrim Energy Inc.
Keith Scrimger
(403) 264-5111
(403) 264-5113 (FAX)
E-mail: scrimger@antrimenergy.com
Website: www.antrimenergy.com
The Canadian Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.