Block 42/23 is adjacent to Antrim's other properties in the southern gas basin, Blocks 42/21 and 42/22. The Company is planning to drill an exploration well on Block 42/21 early in 2005. Under an agreement with UK-based Wham Energy, Antrim also has an option to increase its equity in Blocks 42/21 and 42/22 from 20% to 60% before October 1, 2004.
Antrim's current land holdings in the southern gas basin are located in a mature area containing some of the UK's largest gas fields. Block 42/23 is situated 13 km northwest of the Ravenspurn complex which has produced 1.6 Tcf natural gas since production began in 1989.
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