Antrim to Acquire Stake in UK Block 21/15a from Nexen



Antrim has executed a Heads of Agreement to farm-in to UK North Sea Block 21/15a, owned and operated by Nexen Petroleum U.K. Limited. Antrim will earn a 25.00% working interest in the Block by participating in a well to be drilled by Nexen Petroleum U.K. Limited in 2005 or early 2006. Final completion of the transaction, which is subject to the execution of a Farm-in Agreement and Joint Operating Agreement and normal regulatory approval, is expected to be completed by May 31.

The well will be drilled to a planned depth of approximately 3660 meters to test the Jurassic Fulmar sandstone Bennachie Prospect. The Bennachie Prospect was identified by the 21/15a-2 well, which flowed 40 degrees API gravity oil at a rate of 4363 bbl/d on a 44/64" choke.

Block 21/15a is in close proximity to producing fields and infrastructure in the UK Central North Sea.

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