News

Oct 5, 2004 - 07:45 ET Antrim Commences Drilling of South Galapagos # 1 Well

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 5, 2004) - (TSX: AEN)(AIM: AEY)--Antrim Energy Inc. ("Antrim") announces that drilling has commenced on Antrim's South Galapagos #1 well location on Permit WA-306-P, NorthWest Shelf of Australia. The well is being drilled from the Transocean Sedco 703 semi-submersible drilling platform. The 3,772 metre drilling operation is anticipated to take 32 days.

Permit WA-306-P contains a cluster of drilling prospects including "Galapagos" and "South Galapagos". South Galapagos #1 is the first well to be drilled on the permit.

Antrim, through its wholly owned subsidiary Antrim Energy Australia Pty Limited, is the operator of the project and retains a 32.5% working interest in the permit. In August 2004, Antrim entered into a Farmout Agreement with ONGC Videsh Limited ("OVL") whereby OVL will earn a 55% working interest in permit WA-306-P for funding 80% of the gross well cost up to USD$9.0 million. The remaining 12.5% working interest is held by Magellan Petroleum (W.A.) Pty. Ltd.

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.
Keith Skipper
Executive Vice-President
(403) 264-5111
(403) 264-5113 (FAX)
Email: skipper@antrimenergy.com
Website: www.antrimenergy.com