News

Dec 23, 2003 - 12:39 ET Antrim Energy Inc. Announces Closing of $10 Million Private Placement

CALGARY, ALBERTA and LONDON, UNITED KINGDOM-- 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION 
IN THE U.S. 

Antrim Energy Inc. ("Antrim") is pleased to announce that it has 
now closed its bought deal financing of 8,335,000 Units at a 
price of $0.90 per Unit for gross proceeds of $7,501,500. The 
Underwriters also exercised their option to increase the size of 
the offering by 2,836,867 Units for total gross proceeds of 
$10,054,680 (11,171,867 Units). Canaccord Capital Corporation 
acted as lead underwriter in connection with the private 
placement. Each Unit consists of one Common Share and one-half 
Warrant. Each whole Warrant is exercisable for a period of 12 
months and entitles the holder to acquire one additional Common 
Share of Antrim at a price of $1.30 per share. 

The net proceeds of the financing will be used by Antrim to 
further develop its global exploration program and for corporate 
working capital. Antrim is a global oil and gas exploration and 
production company with properties and current exploration 
activities in Argentina, Australia, Tanzania and the United 
Kingdom. 

The Units were not offered or sold in the United States except in 
transactions exempt from the registration requirements of the 
United States Securities Act of 1933, as amended. 

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. The TSX has not reviewed and does not accept 
responsibility for the adequacy or accuracy of this release. 

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

FOR FURTHER INFORMATION PLEASE CONTACT:

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

or

Antrim Energy Inc.
Anthony J. Potter
Chief Financial Officer
(403) 264-5111
(403) 264-5113 (FAX)
Email: potter@antrimenergy.com
Website: www.antrimenergy.com