News

Nov 3, 2004 - 19:00 ET Antrim Increases Interest in UK North Sea Licence and Discoveries

CALGARY, ALBERTA--(CCNMatthews - Nov. 3, 2004) - (TSX: AEN) - LONDON, UK 
(AIM: AEY)

Antrim Energy Inc. announced today that it has exercised its pre-emptive 
right to acquire an additional 39.2% working interest in UK North Sea 
Licence P.201 (Block 211/22a, "Osprey Ridge"). The acquisition will 
increase Antrim's interest in the Block from 18.4% to 57.6%. Closing of 
the purchase is expected to occur prior to the end of November 2004. The 
other current participants in the Block are ENI UKCS Limited 
(24%-Operator) and CNR International (UK) Limited (18.4%).

The Osprey Ridge Block in the East Shetland Basin of the North Sea is 
situated between the producing Cormorant and Dunlin oilfields, which to 
date have produced over 400 and 380 million barrels of oil respectively. 
Two discovery wells have been drilled on the Block, the most significant 
of which is 211/21a-3, which tested oil from three zones at a combined 
rate of 6,186 bopd from the Jurassic Brent interval (5,512 bopd from a 
single zone). 

Antrim intends to evaluate additional drilling targets in the prolific 
sandstones of the Jurassic Brent Group, including the trends defined by 
the two discovery wells, with a view to drilling at least one well in 
2005. 

Stephen Greer, Chairman and CEO of Antrim said, "This acquisition again 
underscores our commitment to increase Antrim's presence in the UK North 
Sea. Block 211/22a contains two significant oil discoveries and Antrim 
will pursue both exploration and development opportunities related to 
these discoveries. We are very pleased to be able to secure a majority 
interest in this Block and continue with our strategy of growth in the 
U.K. North Sea."

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