Antrim Begins Drilling on Prometheus Prospect

Antrim Energy reports that the Ensco 101 has been moved to the Prometheus exploration licence, blocks 42/21 and 42/22 in the Southern North Sea. Drilling on the Prometheus prospect is expected to commence on September 24, 2005 and will take up to 40 days.

The Prometheus well, which is expected to cost approximately Pounds Sterling 5.5 MM (Cdn. $12.0 MM), will be drilled to target depth at no cost to Antrim. Antrim's interest at the conclusion of the drilling operation will be 17.5%. The Prometheus well is the first well in Antrim's 2005 three-well program in the UK North Sea.

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