News

Jan 2, 2003 - 11:34 ET Antrim Deepening Tunisia Wildcat

CALGARY, ALBERTA--ANTRIM ENERGY INC (TSX:"AEN", Antrim) has 
commenced drilling operations on its previously suspended Chott 
Fejaj #3A well  (Antrim 34.286% working interest) in Tunisia, 
North Africa.  The well will test Triassic and Palaeozoic 
reservoirs in a large structure located in the Melrhir Basin, 
part of the same geological province, which contains 'giant' oil 
and gas accumulations in southern Tunisia, Algeria and Libya.  

The Chott Fejaj structure is one of a series of 
seismically-defined structures on the Antrim concession, each 
associated with the regional Gafsa fault system and similar to 
the large fault-bounded three way dip closures which are 
productive in the Berkine Basin in neighbouring Algeria.   

Chott Fejaj #3A was initially drilled in late 1998 to a depth of 
3,542 metres and suspended in the Upper Triassic claystone and 
salt section on the crest of the structure. The well failed to 
reach the primary target and was cased to a depth of 3,532m for 
later re-entry and deepening to approximately 4,250 metres.  Two 
tests of oil and gas shows in the relatively shallow Jurassic 
Upper Nara carbonates were conducted through casing and both 
tests recovered gas cut formation water. 

The Chott Fejaj #3A well location is situated approximately 12 
kilometres from pipelines which carry oil and gas from fields in 
southern Tunisia to ports on the Mediterranean coast.   

The estimated net cost to Antrim is $1.2 million and operations 
are planned for 25 days. Antrim has received $175,000 by way of 
an unexercised option to farm-in on the well operation.  

Mr. Stephen Greer (Chairman and CEO) commented that, "Chott Fejaj 
#3A is one of a number of operations which will expose Antrim 
shareholders to potentially significant gains in 2003.  Although 
only a few kilometers from oil and gas pipelines, this North 
African well is a "wildcat", an exploration well drilled in a 
frontier province.  If successful, this venture will have a 
significant impact on the Company's value with only modest 
financial exposure." 

Additional information can be obtained on the updated Antrim 
Energy website www.antrimenergy.com. 

Antrim is committed to enhancing shareholder value through high 
impact global exploration. 

FOR FURTHER INFORMATION PLEASE CONTACT:

Antrim Energy Inc.
Stephen Greer
(403) 264 5111
(403) 264 5113 (FAX)
Email: greer@antrimenergy.com

or

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