News

Sep 25, 2008 - 08:21 ET Antrim Energy Signs Agreements for Host Platform for Causeway Production, UK North Sea

CALGARY, ALBERTA--(Marketwire - Sept. 25, 2008) - 

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Antrim Energy Inc. ("Antrim") (TSX:AEN) (AIM:AEY), an international oil and gas exploration and production company, today announced the signing of a Heads of Terms (Agreement) with a subsidiary of Fairfield Energy Limited (Fairfield) for the provision of platform hosting services on the Dunlin Alpha Platform for its Causeway Development in the UK North Sea (Antrim 65.5%).

It is planned for the Causeway Field to be developed using subsea production technology with a tie-back to the existing Dunlin Alpha Platform (Dunlin), which lies approximately 9 kilometres to the east of Causeway. The Dunlin production platform was installed in 1977 and is part of existing oil export infrastructure with a pipeline to the Cormorant Alpha Platform (Cormorant). Cormorant forms the starting point of the Brent Pipeline System for oil transport to the Sullom Voe Oil Terminal in the Shetland Islands.

The Agreement with Fairfield includes provision for engineering, procurement and installation of all platform facilities and services required to host the operation of the Causeway Field, processing of Causeway production and export of Causeway oil to Cormorant. The Agreement forms the commercial basis for more detailed agreements to be developed between Antrim and Fairfield covering the construction and tie-in scope of work and a fully termed transportation, processing and operating services agreement.

Antrim has also signed a contract with Fairfield for the front-end engineering design (FEED) study of the modifications required on Dunlin for the Causeway tie-in. This FEED study, which is due for completion in early 2009, will establish the detailed scope of work, costs and schedule for the platform and riser modification work.

These two agreements are consistent with Antrim's plans to submit a Field Development Plan (FDP) to the UK Department of Business, Enterprise and Regulatory Reform (BERR) later this year, with project approval expected by mid-2009 and first oil from Phase 1 of the development by mid-2010.

Stephen Greer, President and CEO of Antrim, commented, "These agreements with Fairfield are a major step towards the development of Causeway and the realization of Antrim's first oil from the UK North Sea."

About Antrim:

Antrim Energy Inc. is a Canadian, Calgary based high-growth junior oil and gas exploration and production company with assets in the UK North Sea and Argentina. 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, 2007 and dated March 31, 2008 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. Terry Lederhouse Commercial Manager (403) 264-5111 (403) 264-5113 (FAX) Email: lederhouse@antrimenergy.com Website: www.antrimenergy.com or Royal Bank of Canada Europe Limited Sarah Wharry Nominated Adviser on AIM +44 20 7653 4667