Antrim Energy (fka ATGYF)

[kraftdinner]

Antrim Energy completes East Causeway drilling


2006-07-24 03:42 MT - News Release

Mr. Stephen Greer reports

ANTRIM ANNOUNCES CAUSEWAY DRILLING SUCCESS

Antrim Energy Inc. has completed drilling on the Antrim-operated East Causeway well (Antrim 65.5 per cent) in the United Kingdom North Sea. The 211/23d-17z well has been cased for production and a testing program is expected to commence later this week.

The well was drilled as planned both at a high angle and horizontally through the prospective zones to a measured depth of 14,900 feet (4,542 metres), representing a true maximum vertical depth of 10,370 feet (3,161 metres). Electric log and other well data received to date indicate that the 23d-17z well intersected approximately 1,185 feet (361 metres) of net oil-bearing sandstone representing 57 feet (17.4 metres) net vertical thickness of potential reservoir. Prospective reservoirs include the Jurassic Ness and Tarbert formations drilled in two fault compartments. Several oil-bearing sandstone intervals were encountered, each interval demonstrating excellent reservoir quality on log analysis with an average porosity value of approximately 20 per cent.

The 23d-17z testing program is expected to take at least 14 days.