Antrim Energy Pleased with Final Results from East Causeway Well

Antrim Energy reports the final test results from the Antrim-operated East Causeway well 211/23d-17z (Antrim 65.5%) in the UK North Sea. The well was drilled at a high angle and horizontally through the Middle Jurassic Brent Group of sandstones, intersecting several reservoirs in the Ness and Tarbert Formations in two separate fault compartments. A stabilized test rate of 14,500 bopd has been recorded from the combined Ness and Tarbert Formations in the western fault compartment.

The second and final test was performed on the Ness Formation in the western fault compartment. The tested zone flowed at multiple stabilized rates up to 7,500 bopd. The 7,500 bopd was recorded at 1,006 psi on a 42/64 choke. The oil is similar to that recovered from the first test i.e. light, 32 degrees API, sweet with a low gas oil ratio. No water was tested from either zone.

The initial test, previously announced August 3, 2006, recorded stabilized rates of up to 7,000 bopd from the Tarbert Formation also from the western fault compartment.

Neither of these reported rates include the 8,100 bopd flow rate which was previously recorded from the Ness Formation in the suspended 211/23b-11 well in the eastern fault compartment. This Ness reservoir was also intersected at a high angle and horizontally by the current Antrim operated 211/23d-17z well but not tested. It is Antrimís intention to also complete the well for production from the Ness Formation in this eastern fault compartment.

Flow rate and pressure data from the tests will now be analyzed to assess the full productivity and reserve potential of the Ness Sandstone intersected by both the 23b-11 well and the current 23d-17z well, in addition to the two zones tested by 23d-17z and several other zones that remain untested in 23d-17z.

An evaluation of the log data through the horizontal section of the well bore indicates that net pay is 77 ft (23.5 m) rather than the 57 ft (17.4 m) previously reported on July 24, 2006.

The well will be suspended pending final development and the drilling rig released within the week.

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