News

Mar 7, 2005 - 12:14 ET Antrim Updates UK Exploration Activities

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(CCNMatthews - March 7, 2005) - Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim") is pleased to announce that it has entered into a Heads of Agreement with Dana Petroleum Plc ("Dana") whereby Dana will earn a 54.79% working interest in the north and western areas of UK North Sea Block 211/22a in exchange for funding 100% of the cost of an exploration well on the block up to a gross cost of Pounds Sterling 5,750,000. Antrim will retain a 21% working interest in the prospect (Dana 79%).

Block 211/22a is situated between the producing Cormorant and Dunlin oilfields. Dana intends to drill the 'Clachnaben' prospect in the northwest portion of the block as part of its 2005 North Sea drilling program. It is anticipated that drilling of this prospect could commence as early as mid 2005. Under the Heads of Agreement, Dana will be appointed Operator of this portion of the block. Antrim is expected to be appointed as Operator of the southeast portion of the block upon completion of the transaction. Antrim will hold a 79% working interest in this portion of the block (Dana 21%) which includes the prospective Osprey Ridge area. Final completion of the transaction, which is subject to normal regulatory and partner approval, is expected to be completed by March 15, 2005.

Gerry Orbell, Chairman, said "We are very pleased to be able to enter into this transaction with Dana. This transaction exposes the shareholders to a near term drilling opportunity in the UK at no further cost to Antrim and at the same time boosting our equity on the prospective Osprey Ridge area."

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
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
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.