Antrim reports new discovery in Argentina

Calgary-based Antrim Energy Inc. announced that initial test results from its Medianera drilling program in Argentina indicate a new field discovery.

Of the two wells drilled, M3001 and M3002, each to a depth of approximately 1,400m, both intersected an oil column in the Cretaceous Quintuco Formation. The M3001 well was perforated in the upper Quintuco zone and swab tested 93 barrels of oil per day with 30 barrels of water per day from 12 metres of net pay. Seismic data from Antrim’s recently completed 84 km2 3-D program also indicate the discovery has a significant lateral extent.

Additional completion work is planned at the M3001 well to isolate the water bearing zone. Gas was also tested from the lower Quintuco zone at rates up to approximately 3 mmcf/d. The upper Quintuco oil zone well has been placed on production and the oil is being trucked 5 km to an Antrim-owned battery and sales point.