Antrim Energy (fka ATGYF)

[kraftdinner]

Antrim Energy increases its equity in Promote blocks

2004-10-01 16:23 ET - News Release


Mr. Stephen Greer reports

ANTRIM EXERCISES OPTION IN UK NORTH SEA

Antrim Energy Inc. has exercised its option and increased its equity in Promote licence blocks 42/21 and 42/22 from 20 per cent to 60 per cent. Blocks 42/21 and 42/22 are located in the southern North Sea gas basin and were awarded as part of the 21st offshore licencing round in October, 2003. From the date of the award, Antrim has two years in which to commit to the drilling of one well or drop the blocks.

Blocks 42/21 and 42/22 are adjacent to block 42/23 recently offered to Antrim pursuant to the United Kingdom's 22nd offshore licencing round. Antrim is the designated permit administrator of the three blocks. In September, 2004, Antrim announced its intention to drill an exploration well on block 42/21 in early 2005.

WARNING: The company relies upon litigation protection for "forward-looking" statements.