Antrim to Begin Causeway Drilling Program in 2007

Antrim Energy has signed a Letter of Intent to contract a drilling rig for the Antrim-operated 2007 multi-well Causeway drilling program in UK North Sea Block 211/22a (Antrim 65.5%).

The semi-submersible rig has been contracted by Antrim for three wells and the program will be managed by AGR Peak Well Management ("Peak"). Peak similarly managed the Antrim - operated East Causeway well drilled in June 2006.

The 2007 program follows the drilling of Antrim's successful 2006 East Causeway Discovery 211/23d - 17z, previously announced August 11, 2006, which tested 14,500 barrels of oil per day ("bopd") from the Causeway Tarbert and Ness Sandstones. This test rate does not include the 8,100 bopd on the previously drilled and now suspended well 211/23b-11.

Pending various approvals, the first appraisal/development well planned for 2007 is expected to be drilled approximately 2 miles southwest of the East Causeway Discovery and is scheduled to start drilling in May 2007. The well will be drilled to approximately 3,500 m (11,500 ft) and is intended to appraise each of the Jurassic Tarbert, Ness and Etive Sandstones.

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