Antrim Receives Confirmation of Drilling Rig for Prometheus

Antrim Energy reports that a drilling rig has been contracted to drill the Prometheus prospect in the UK Southern Gas Basin. Centrica Resources Limited, a subsidiary of Centrica plc, (Operator) has exercised its option to extend the Ensco 101 jackup rig contract to drill the exploratory well on block 42/21.

Drilling operations, anticipated to take approximately 40 days, are expected to commence in early September 2005. The well will be drilled at no cost to Antrim to a projected depth of 2,667m (8,750 ft) subsea. Antrim's interest at the conclusion of the drilling operation will be 17.5%. The drilling will target the prolific Permian Leman Sandstone close to and on trend with the Ravenspurn gas fields.

The Prometheus prospect is the first well in Antrim's 2005 three-well program in the UK North Sea. The Prometheus well will be followed by an exploration well ("Clachnaben") targeting the Jurassic Brent Sandstone in the Northern Sector and an appraisal well ("Bennachie") targeting the Jurassic Fulmar Sandstone in the Central Sector of the UK North Sea.

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