News

Oct 31, 2007 - 12:08 ET Antrim Secures Drilling Rig for Fyne Drilling Program in UK North Sea

CALGARY, ALBERTA and LONDON, UNITED KINGDOM--(Marketwire - Oct. 31, 2007) - 

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Antrim Energy Inc. (TSX:AEN)(AIM:AEY) ("Antrim") an international oil and gas exploration and production company today announced that a rig contract has been signed for the Antrim-operated Fyne drilling program in the UK Central North Sea Block 21/28a (Antrim 75%).

The program, which will include one pilot hole and at least two side tracks, will be managed by AGR Peak Well Management ("AGR"). AGR also managed the successful multi-well drilling program on the Antrim-operated Causeway property in the UK Northern North Sea.

The Fyne drilling program is expected to start early in the first quarter 2008 and will initially target the Eocene Middle Tay Sandstone which previously tested rates up to 3600 bopd of medium gravity (25 degrees API) oil from the Fyne discovery well (21/28a-2) drilled in 1986. Antrim recently completed a 3-D seismic program over the area and intends to appraise this previous discovery by drilling a series of wells into the Tay Sandstone and flow testing at least one of the penetrations.

UK Northern North Sea Activities:

Antrim anticipates the rig responsible for the recent Causeway program will be released from the 211/21a-9 well shortly. Additionally, in the same area, the non-operated Kerloch well (211/22a NW, Antrim 21%) is scheduled to begin drilling in mid-November, 2007 with results expected in mid-December 2007.

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

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 www.sedar.com, 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.

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 Adviser on AIM:
Nabarro Wells & Co. Limited
John Wilkes/Robert Lo
+44 20 7710 7400