Sep 17, 2009 - 14:30 ET Antrim Energy Inc. Provides Operational and Resource Update for the Greater Fyne Area, UK Central North Sea

CALGARY, ALBERTA--(Marketwire - Sept. 17, 2009) - Antrim Energy Inc. ("Antrim" or "the Company") (TSX:AEN) (AIM:AEY)


Antrim is pleased to provide an operational and resource update for the Fyne Field and the 'Greater Fyne Area' in the UK Central North Sea. The Company has received responses to its pre-qualification enquiry for a floating production storage and offloading unit (FPSO) to service production from the 20 million barrel Fyne Field (proved plus probable reserves, McDaniel and Associates Consultants Ltd., 31 December 2008; Antrim 75% interest and Operator). These responses are currently being evaluated. The production system will be expected to process 30,000 barrels of oil per day, allowing for potential production from the as yet undeveloped satellite discoveries. 

Plans are progressing to undertake a survey on the planned seabed facilities and pipeline routes associated with the Fyne production system. This work is anticipated to be complete before the end of November this year.

UK 25th Bid Round Resource Estimates

Antrim is also pleased to report that internal resource estimates for the licences recently acquired in the UK 25th Bid Round in Blocks 21/24b, 21/24c, 21/28b and 21/29c in the 'Greater Fyne Area' have been completed. These blocks contain targets in the Eocene Tay and Jurassic Fulmar Sandstones, some of which have been drilled by previous operators. Antrim holds 100% interest in each of these new licences. Antrim estimates the range of total risked prospective resources on these licences to be 29.7 MMbbls (low estimate), 54.9 MMbbls (best estimate) and 105.5 MMbbls (high estimate). These prospective resources have been risked for chance of discovery but not for chance of development. If a discovery is made, there is no certainty that it will be developed, or if it is developed, there is no certainty as to the timing of such development. 

Stephen Greer, Antrim's President & CEO, adds: "Antrim is very pleased to report this progress for the Fyne Field and the Greater Fyne Area. The Company is well capitalized in the short term to continue this front end engineering and design work. Antrim is seeking a partner to fund the larger and longer term capital expenditures required to ensure the target production startup for Fyne in mid-2011. The new internal resource estimates lend a high degree of confidence to our strategy of securing an independent FPSO to service the Fyne Field and the surrounding Greater Fyne Area."

Forward-Looking Statements

This news release contains certain forward-looking statements, which include assumptions with respect to future plans, results, capital expenditures and resource estimates. 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, 2008 and dated March 31, 2009 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 Vice President Operations of Antrim, is the qualified person that has reviewed the technical information contained in this news release.


Antrim Energy Stephen Greer President & CEO (403) 264-5111 (403) 264-5113 (FAX) or Antrim Energy Scott Berry Manager, Investor Relations (403) 264-5111 (403) 264-5113 (FAX) or Antrim Energy Kerry Fulton Vice President Operations (403) 264-5111 (403) 264-5113 (FAX) or Nominated Adviser on AIM: Royal Bank of Canada Europe Limited Sarah Wharry + 44 20 7653 4667