News

Mar 21, 2005 - 11:47 ET Antrim UK North Sea Farm-out Finalized, Block 211/22a, East Shetland Basin

CALGARY, ALBERTA--(CCNMatthews - March 21, 2005) - Antrim (TSX:AEN) (AIM: AEY) is pleased to announce that it has finalized a formal Farm-Out Agreement relating to Antrim's North Sea Block 211/22a (the "Block"). Under the Agreement, Dana Petroleum plc ("Dana"), a leading UK exploration and production company, will earn a 54.79% working interest in the north and western areas of Antrim's block in exchange for funding 100% of the cost of an exploration well up to a gross cost of Pounds Sterling 5,750,000 (Cdn.$14 million dollars). Antrim will retain a 21% working interest in this area of the block.

Block 211/22a is situated between the producing Cormorant and Dunlin oilfields which to date have produced over 400 million and 380 million barrels of oil respectively. Dana intends to drill the 'Clachnaben' prospect in the northwest portion of the Block as part of its 2005 North Sea drilling program. A discovery well drilled in 1976 on the northwest portion of the block (211/22a-1) tested oil at a rate of 1,280 bopd.

Under the agreement, and following Dana's earning well, Antrim will increase its working interest from 75.794% to 79% in the southeast portion of the block which includes the prospective Osprey Ridge area. A discovery well (211/22a-3) drilled in 1984 on this portion of the block tested oil at 5,512 bopd from a Jurassic reservoir. Antrim anticipates it will be appointed Operator of the southeastern (Osprey Ridge) portion of the block.

A map of the Block is available on the CCNMatthews website: http://www2.ccnmatthews.com/database/fax/2000/321aen_map.gif

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.

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.
Dwayne Warkentin
Chief Operating Officer
(403) 264-5111
(403) 264-5113 (FAX)
Email: warkentin@antrimenergy.com
Website: www.antrimenergy.com
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.