News

Nov 30, 2006 - 19:24 ET Antrim Energy Inc. Adopts Shareholder Rights Plan

CALGARY, ALBERTA AND LONDON, UNITED KINGDOM--(CCNMatthews - Nov. 30, 2006) - Antrim Energy Inc. ("Antrim") (TSX:AEN)(AIM:AEY) today announced that its Board of Directors has adopted a Shareholder Rights Plan (the "Rights Plan").

The Rights Plan has been adopted by the Board of Directors to ensure the fair treatment of shareholders in connection with any take-over offer for the Corporation, and to provide the Board of Directors and shareholders with additional time to fully consider any unsolicited take-over bid. The Rights Plan will also provide the Board of Directors more time to pursue, if appropriate, other alternatives to maximize shareholder value.

The Rights Plan has been conditionally accepted for filing by the Toronto Stock Exchange, is effective as of November 30, 2006 and must be approved by shareholders at the 2007 annual meeting of the shareholders of the Corporation. If approved by shareholders, the Rights Plan will have an initial term of three years. If not approved, the Rights will be redeemed in accordance with the terms of the Rights Plan.

The Corporation is not adopting the Rights Plan in response to any specific proposal to acquire control of the Corporation. The Rights Plan is similar to plans adopted by other Canadian companies and approved by their shareholders.

The Rights Plan is not intended to prevent take-over bids. Under the Rights Plan, those bids that meet certain requirements intended to protect the interests of all shareholders are deemed to be "Permitted Bids" Permitted Bids must be made by way of a take-over bid circular prepared in compliance with applicable securities laws and remain open for sixty days.

Under the Rights Plan, Rights have been issued and attached to all common shares of the Corporation issued and outstanding as of the close of business on November 30, 2006. Rights will be issued upon any future issuance of any common shares of the Corporation that occurs prior to the Separation Time (as defined in the Rights Plan).

In the event a take-over bid does not meet the Permitted Bid requirements of the Rights Plan, the Rights will entitle shareholders, other than any shareholder or shareholders making the take-over bid, to purchase additional common shares in the Corporation at a substantial discount to the market value at the time.

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
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