News

Nov 29, 2004 - 15:04 ET Antrim Updates UK Activities

CALGARY, ALBERTA AND LONDON, UNITED KINGDOM--(CCNMatthews - Nov. 29, 
2004) - Antrim (TSX:AEN) (LSE-AIM:AEY) is pleased to announce it has 
signed an agreement with a US-based international energy company whereby 
the company will, subject to regulatory and other approvals including 
the negotiation of a definitive farm-in agreement and a joint operating 
agreement, farm-in on Antrim's 60% interest in UK Blocks 42/21 and 
42/22, located in the Southern Gas Basin of the North Sea. Under the 
agreement, the new participant will use reasonable efforts to commit to 
drilling a well on Block 42/21 by May 31, 2005. Provided that the 
remaining 40% of the working interest is funded, the participant will 
pay 60% of the well costs to earn a 45% interest in both Blocks. The 
well, which will test a gas target in the Rotliegendes Formation, will 
be drilled at no cost to Antrim. Antrim will retain a 15% interest in 
the well and in Blocks 42/21 and 42/22. Under the same agreement, Antrim 
has granted the participant an option to farm-in under similar terms on 
Block 42/23 (Antrim 60% interest).

The exploration well in the southern gas basin will be drilled in a 
mature area containing some of the UK's largest gas fields. The farm-in 
blocks are located less than 20 km northwest of the Ravenspurn complex, 
which has produced 1.6 Tcf of natural gas since production began in 1989.

Also in the UK North Sea, Antrim has committed to drill a well on Block 
211/22a (Antrim 57.6%). This drilling commitment preserves the licence 
on Block 211/22a, which contains two significant undeveloped oil 
discoveries.

Antrim will open and staff an office in the UK early in 2005. This 
commitment reflects the company's growing presence and our forecast 
increased level of activity in the UK North Sea.

Stephen Greer, Chairman and CEO of Antrim said: "The farm-in commitment 
will allow Antrim to concentrate on its recently acquired interests in 
Block 211/22a, the 'Osprey Ridge' which will also be drilled in 2005. 
This strategic farm-out will adjust the company's risk profile in favour 
of the lower risk oil development projects represented both by the 
discoveries in Block 211/22a and Antrim's recently announced production 
successes in Argentina."

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.

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