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Sep 15, 2005 - 15:54 ET Antrim Energy Inc. Announces Closing of Private Placement and Filing of Preliminary Short Form Prospectus

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(CCNMatthews - Sept. 15, 2005) - 

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

Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim") is pleased to announce the closing of its previously announced private placement offering (the "Offering"). An aggregate of 6,111,111 Special Warrants were issued at a price of $1.80 per Special Warrant for gross proceeds of $11.0 million. The Offering was led by Research Capital Corporation and included Octagon Capital Corporation (collectively the "Underwriters").

Each Special Warrant entitles the holder to acquire one Common Share and one-half of one Warrant. Each whole Warrant is exercisable for a period of 18 months and entitles the holder thereof to acquire one additional Common Share of Antrim at a price of $3.00 per share. The Underwriters received a cash commission of 7% of the gross proceeds from the private placement and Underwriters Special Warrants equal to 10% of the Special Warrants issued. Each Underwriters Special Warrant entitles the holder to acquire one Common Share and one-half of one Warrant at a price of $1.80 for a period of 12 months. Each whole Warrant is exercisable at a price of $3.00 per share for a period of 18 months following the closing of the Offering and entitling the holder thereof to acquire one additional Common Share of Antrim.

Antrim is also pleased to announce that it has filed a preliminary short form prospectus in the provinces of Alberta, British Columbia and Ontario in connection with a "best efforts" offering (the "Best Efforts Offering") of 8,333,333 Units at a price of $1.80 per Unit with aggregate gross proceeds of the Best Efforts Offering anticipated to be up to $15.0 million. The Best Efforts Offering is being led by Research Capital Corporation and includes Octagon Capital Corporation and Oriel Securities Limited (collectively the "Agents"). Research Capital Corporation and Octagon Capital Corporation will offer the Units in the provinces of Alberta, British Columbia and Ontario under the short form prospectus and the Agents will offer the Units in the United Kingdom pursuant to applicable exemptions.

Each Unit will consist of one Common Share and one-half of one Warrant. Each whole Warrant shall be exercisable for a period of 18 months following the closing of the Offering and shall entitle the holder thereof to acquire one additional Common Share of Antrim at a price of $3.00 per share.

Closing is expected to occur on September 28, 2005. The transaction is subject to certain conditions including normal regulatory approvals. Antrim intends to use the net proceeds of this offering to fund its "Causeway" Prospect in the UK North Sea and for corporate working capital.

The short form prospectus also qualifies for distribution the common shares and warrants issuable upon exercise or deemed exercise of the Special Warrants.

In conjunction with the prospectus filing, Antrim has also filed a Revised Annual Information Form, dated September 8, 2005, for the year ended December 31, 2004, which includes the following reports required under National Instrument 51-101 "Standards of Disclosure for Oil and Gas Activities": Form 51-101F1, Statement of Reserves Data and Other Oil and Gas Information; Form 51-101F2, Reports of Reserve Data by Independent Qualified Reserves Evaluators; and Form 51-101F3, Report of Management and Directors on Oil and Gas Disclosure. The Revised Annual Information Form can be found for viewing by electronic means on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

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
President & 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