Antrim wins Exploration Licence in Argentina

Canada based Antrim Energy Inc. has been awarded an exploration licence for the Tres Nidos Sur block in Rio Negro province in central Argentina. Tres Nidos Sur is immediately adjacent to and north of the Medianera Licence (Antrim working interest 70%) in the Neuquen Basin. Antrim’s working interest in Tres Nidos Sur will also be 70%.

Under the terms of the licence, Antrim will acquire a minimum of 50 km2 of 3D seismic in year one, and drill an exploration well in year two. Antrim plans to coordinate the exploration and development of Tres Nidos Sur with Medianera. As announced on August 23, 2007, Antrim recently discovered a new oil and gas field in the north area of the Medianera licence. Both wells drilled, M3001 and M3002, intersected an oil column in the Cretaceous Quintuco Formation.

The seismic data that will be acquired in Tres Nidos Sur will be integrated with the recently acquired 84 km2 of 3D seismic in Medianera to establish drilling targets in both licences.

Antrim’s production and exploration operations are centered in Argentina and its high impact oil and gas exploration is focused in the United Kingdom.