Antrim Closes Finance Deal

Antrim Energy Inc. has closed its previously announced "bought deal" financing.

Antrim has sold to a syndicate of underwriters 10,000,000 common shares at a price of C$5.00 per common share for gross proceeds of $50,000,000. The syndicate was led by Tristone Capital Inc. and included Blackmont Capital Inc., Wellington West Capital Markets Inc. and GMP Securities L.P. (collectively the 'Underwriters'). Oriel Securities Limited acted as a special selling agent in the U.K.

Antrim also announced that an over-allotment option granted to the Underwriters to purchase an additional 1,500,000 common shares at a price of C$5.00 per share has been exercised.

Total gross proceeds from the financing, including over-allotment option, were $57,500,000. Application has been made to the London Stock Exchange for 11,500,000 new shares to be admitted to trading on AIM, and admission is expected to take place on Monday May 14, 2007.

After giving effect to the financing, Antrim has 107,638,462 common shares issued and outstanding.


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