News

May 22, 2007 - 02:00 ET Antrim Energy Begins Exploration Drilling on Medianera Licence in Argentina

Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim"), an international oil and gas exploration and production company, is pleased to announce today that drilling has commenced on the first of two exploration wells on its Medianera licence in the Rio Negro Province in central Argentina. Antrim holds a 70% working interest in the Medianera licence.

Based on 3D seismic acquired in 2006, the first well M3002 targets a Jurassic sequence at a depth of 1,400 metres. The well is expected to take approximately 14 days to drill and test. A second exploration well is planned for the Medianera licence in early June.

In southern Argentina, on the Tierra del Fuego licences, Antrim's previously-announced drilling plans remain on schedule with a rig expected to arrive in June, 2007 to allow drilling to start in late June or early July, 2007. This rig has been contracted for two years and will be dedicated to Antrim's Tierra del Fuego licences. Acquired in 2005, Antrim holds a 25.78% interest in the Tierra del Fuego licenses.

The Company announced, March 2007, that in 2006 it added over 93% to its reserve base in Argentina through drilling success. The May 15th first quarter results reported production from the area was 1,502 boepd. Overall this represents a 57% increase in production over the comparable period in 2006.

About Antrim

Antrim Energy Inc. is an international oil and gas exploration and production company headquartered in Calgary, Alberta, Canada. Antrim's objective is to create significant wealth for its shareholders through the discovery, production and sale of oil and gas. Antrim's production and exploration operations are centered in Argentina and its high impact oil and gas exploration is focused in the United Kingdom. Antrim is listed on the Toronto Stock Exchange (AEN) and on the London Stock Exchange's Alternative Investment Market (AEY). Visit www.antrimenergy.com for more information.

Forward-Looking Statements

Certain statements contained in this news 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. In accordance with AIM guidelines, Mr. Kerry Fulton, P. Eng and Chief Operating Officer of Antrim, is the qualified person that has reviewed the technical information contained in this news release.


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.
Kerry Fulton
Chief Operating Officer
(403) 264-5111
(403) 264-5113 (FAX)
Email: fulton@antrimenergy.com
Website: www.antrimenergy.com

or

Nominated Advisor on AIM:
Nabarro Wells & Co. Limited
John Wilkes
+44 20 7710 7400

or

Nominated Advisor on AIM:
Nabarro Wells & Co. Limited
Robert Lo
+44 20 7710 7400