Antrim Energy Inc. increased output and the casing of production wells in Tierra del Fuego, Argentina.
Production from the company's properties in Argentina has increased through drilling success to approximately 2,000 boepd from the last reported average production rate of 1,536 boepd (September 30th, 2007). With the completion of additional production facilities, production is expected to rise to 3,000 boepd by July 2008.
Antrim recently completed and cased the sixth well in the previously announced multi-well two year drilling contract in Tierra del Fuego. All of the wells drilled to-date under this contract have been cased for production. Three oil wells drilled in this program are already on production.
The exploration well drilling on the Capricorn licence (Antrim pre-farmout WI 50%, post farmout WI 37.5%) was recently cased in preparation for testing. Test results are expected by February 2008.
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