Antrim successful drilling at Causeway well

Antrim Energy Inc., an oil and gas exploration and production company with operations in Argentina and the United Kingdom, provides drilling results from its Causeway well 211/23d-18 in the UK North Sea.

Antrim, which holds 65.5% interest in the Causeway well, drilled the 23d-18 well and found a significant oil column, including a new oil accumulation in the Etive Formation.

The company claims that the 23d-18 well, which was drilled directionally, 60 ft structurally below 23d-17z, penetrated an oil column of 50 ft with 25 ft TVD net oil pay in the Ness Formation and an oil column of 15 ft with 8 ft TVD net oil pay in the underlying Etive Formation.

Porosity and permeability measurements indicate high quality reservoirs with average porosity of 20% and permeability measured up to approximately 800 mD.

Stephen Greer, President and CEO of Antrim, is pleased this well encountered an oil column in the high quality Etive Sandstone estimated to be approximately 60ft structurally below the projected elevation in the vicinity of the discovery well.

This discovery in the Etive Formation in 23d-18 could represent a significant addition to the Causeway resource base. The drilling results represent another important step toward first production, expected in late 2009 from the Causeway property, concluded Mr. Greer.