Antrim Offers $100 Million of Convertible Debentures

Antrim Energy Inc. announced that it has entered into an agreement with a syndicate of agents co-led by Wellington West Capital Markets Inc. and RBC Capital Markets and including Cormark Securities Inc. and Research Capital Corporation, regarding a private placement offering of up to US$100 million aggregate principal amount of senior unsecured convertible debentures.

The final terms of the Debentures are expected to be finalized on or about May 29, 2008. The Offering is subject to certain conditions including the approval of the Toronto Stock Exchange.

The Debentures are being offered by way of a private placement in certain provinces of Canada as agreed between the Agents and the Corporation 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 appraisal and development projects and for corporate working capital. The offering is expected to close on or about June 18, 2008 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals.


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