News

Aug 24, 2004 - 11:37 ET Antrim Energy Inc. Announces Closing of $7.5 Million Private Placement

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(CCNMatthews - Aug. 
24, 2004) -  

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

Antrim Energy Inc. ("Antrim")(TSX: AEN)(AIM: AEY) is pleased to 
announce that it has closed its previously announced bought deal 
financing of 4,687,500 Units at a price of $1.60 per Unit for 
total gross proceeds of $7,500,000. Each Unit consists of one 
Common Share and one-half of one Warrant. Each whole Warrant 
entitles the holder thereof to acquire one additional Common 
Share of Antrim at a price of $2.10 per share prior to August 25, 
2005. A total of 468,750 Broker Warrants were also issued. Each 
Broker's Warrant entitles the holder to purchase one Unit of the 
Corporation on payment of $1.60 per Unit prior to August 25, 
2005.  

Antrim plans to use the net proceeds of this offering for funding 
further North Sea acquisitions and development and for corporate 
working capital. Antrim is a global oil and gas exploration and 
production company with current exploration activities in 
Australia, Argentina and the United Kingdom. 

This press release is not for distribution to United States 
newswire services or for dissemination in the United States. This 
news release does not constitute an offer to sell or a 
solicitation of an offer to buy any of the securities in the 
United States. The securities have not been and will not be 
registered under the United States Securities Act of 1933, as 
amended (the "U.S. Securities Act") or any state securities laws 
and may not be offered or sold within the United States or to 
U.S. Persons unless registered under the U.S. Securities Act and 
applicable state securities laws or an exemption from such 
registration is available. 

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