Dec 13, 2007 - 08:55 ET Antrim Energy Inc.: Argentina Drilling Update

CALGARY, ALBERTA AND LONDON, UNITED KINGDOM--(Marketwire - Dec. 13, 2007) - 


Antrim Energy Inc. ("Antrim") (TSX:AEN) (AIM:AEY) today announced the latest drilling results in its two-year drilling program in Tierra del Fuego (Antrim 25.78%) in southern Argentina. Since the commencement of the drilling program in September 2007, four wells have been drilled. The most recently completed well, Los Patos 1011 (LP-1011), has tested at rates up to 1,000 barrels of oil per day (bopd), while the two previous wells tested at stabilized rates between 40 and 60 bopd. The fourth well is awaiting completion. Well LP-1011 is currently on production at 755 bopd of 40 degrees API oil and a gas/oil ratio of 400 scf/bbl on a 16mm choke, 180 psi, with no water. The rig is moving to the fifth location and spud is expected this week.

The initial phase of the drilling program is to evaluate the Springhill Formation in the Los Patos Field. The drilling program, which is based on an extensive 3D seismic program acquired in 2006, will continue until Q3 2009 under the current two year drilling contract.

Additionally in Tierra del Fuego, facility additions are presently on-going, including gas processing, oil and gas gathering lines and compression.

In Antrim's northern Capricorn licence (Antrim WI 50%), the first well drilled under the farm out agreement with Gold Point Energy was plugged and abandoned. The second well is presently drilling, with results expected by year end.

In Antrim's Medianera licence (Antrim 70%) in central Argentina, two successful wells have been completed and are on production. A rig is being sourced for an additional six well drilling program for 2008.

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 for more information.

Forward-Looking Statements

This news release contains certain forward-looking statements, which include assumptions with respect to future plans, results and capital expenditures. Cumulative volumes are not necessarily representative of future production volumes. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. All such forward looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond Antrim's control. Please refer to Antrim's Annual Information Form for the year ended December 31, 2006 and dated March 30, 2007 and available for viewing at, for a list of risk factors. Antrim's actual results could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Antrim will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Antrim or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release.

Qualified Person Review

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.


Antrim Energy Inc.
Stephen Greer
President & CEO
(403) 264-5111
(403) 264-5113 (FAX)


Antrim Energy Inc.
Kerry Fulton
Chief Operating Officer
(403) 264-5111
(403) 264-5113 (FAX)


Nabarro Wells & Co. Limited
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Marc Cramsie/Robert Lo
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