Antrim Begins Workover Program in Argentina

Antrim Energy reports that a new round of workover operations commenced March 15th, on Antrim's Puesto Guardian property. These operations are a continuation of the successful workover program which originally started in September 2004 and was suspended due to inclement weather in December 2004. The 2004 workover and recompletion program successfully added more than 100 bopd to Antrim's Puesto Guardian production. Increased sales from the 2004 operations have already paid out the costs associated with the program. Workover operations on a further five wells are planned during the months March - May, 2005. A large (300 km2) 3-D seismic survey is in progress on Antrim's recently acquired oil and gas properties in Tierra del Fuego, Southern Argentina. New production from the successful workovers and from the Tierra del Fuego properties brings Antrim's current corporate production to 1,100 boepd.(a)

(a) The BOE conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead".


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