News

May 11, 2007 - 09:21 ET Antrim Energy Inc. Announces Closing of Financing

CALGARY, ALBERTA AND LONDON, UNITED KINGDOM--(CCNMatthews - May 11, 2007) - 

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

Antrim Energy Inc. (TSX:AEN) (AIM:AEY) ("Antrim") is pleased to announce the closing of its previously announced "bought deal" financing. Antrim has sold to a syndicate of underwriters 10,000,000 common shares at a price of C$5.00 per common share for gross proceeds of $50,000,000. The syndicate was led by Tristone Capital Inc. and included Blackmont Capital Inc., Wellington West Capital Markets Inc. and GMP Securities L.P. (collectively the "Underwriters"). Oriel Securities Limited acted as a special selling agent in the U.K. Antrim is also pleased to announce that an over-allotment option granted to the Underwriters to purchase an additional 1,500,000 common shares at a price of C$5.00 per share has been exercised.

Total gross proceeds from the financing, including over-allotment option, were $57,500,000. Application has been made to the London Stock Exchange for 11,500,000 new shares to be admitted to trading on AIM and admission is expected to take place on Monday May 14, 2007. After giving effect to the financing, Antrim has 107,638,462 common shares issued and outstanding.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy the securities in any jurisdiction. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold in the United States unless an exemption from registration is available.

Reader Advisory

This news release contains certain forward-looking statements, which include assumptions with respect to (i) funds to be raised in a financing; and (ii) future capital expenditures. 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 the Company's control. Please refer to the Company's Annual Information Form for the year ended December 31, 2006 and dated March 30, 2007 and available for viewing at www.sedar.com, for a list of risk factors. The Company'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, including the amount of proceeds, that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to the Company 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 and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable Canadian securities laws and AIM Rules in the UK.


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

or

Nominated Adviser
Nabarro Wells & Co. Limited
John Wilkes
Director
+44 20 7710 7400
Email: antrim@nabarro-wells.co.uk