Antrim Increases Stake in Osprey Ridge

Antrim Energy has exercised a right to acquire an additional 18.19% working interest in UK North Sea License P.201 (Block 211/22a, "Osprey Ridge"). The acquisition will increase Antrim's interest in the Block from 57.6% to 75.79%. Closing of the purchase is expected to occur prior to the end of January 2005.

In other news the company also announces that Mr. Murray Sinclair has resigned from the Board of Directors. Antrim would like to thank Mr. Sinclair for his many contributions since joining the Board in October 2002. Mr. Sinclair's insight and valuable input will be missed.

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