Antrim Enters $50.2 Million Financing Deal

Antrim Energy has entered into an agreement with a syndicate of underwriters led by Wellington West Capital Markets Inc. and including Tristone Capital Inc. and Cormark Securities Inc. pursuant to which the Underwriters have agreed to purchase 8,300,000 common shares of the Corporation on a bought deal basis, at a price of $6.05 per Common Share for aggregate gross proceeds of $50,215,000.

The Underwriters have the option to purchase from the Company up to an additional 1,245,000 Common Shares at the Issue Price at any time prior to 30 days following the closing of the Offering for further gross proceeds of $7,532,250. The Common Shares to be issued under the Offering will be offered by way of a short form prospectus in the provinces of British Columbia, Saskatchewan, Alberta, Manitoba and Ontario and such other provinces of Canada (except Quebec) as the Underwriters and the Corporation may agree and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Antrim plans to use the net proceeds from this financing to fund its exploration and development projects and for corporate working capital. The offering is expected to close on or about November 15, 2007 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.


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